Curated News
By: NewsRamp Editorial Staff
September 10, 2025
Manulife and TruAmerica Launch $1B Affordable Housing Venture
TLDR
- Manulife IM and TruAmerica's $1 billion joint venture provides institutional investors with resilient income streams through tax-credit backed affordable housing assets.
- The joint venture acquires GP interests in a 51-property portfolio using Low-Income Housing Tax Credits to preserve income-restricted housing across major metro areas.
- This partnership preserves essential affordable housing communities for thousands of residents facing the greatest affordability strain across the United States.
- Anchor Point Residential debuts with 6,000 units across California, Texas, and Washington in one of the largest LIHTC transactions ever completed.
Impact - Why it Matters
This joint venture addresses one of America's most pressing social and economic challenges - the critical shortage of affordable housing. With millions of Americans spending over 30% of their income on housing and many facing eviction risks, this $1 billion investment directly impacts working families struggling to find quality, affordable homes. The partnership's focus on preserving existing affordable housing units rather than just building new ones is particularly significant, as it prevents the loss of already scarce affordable inventory to market-rate conversions. For communities across major metro areas in California, Texas, and Washington, this initiative means thousands of families will maintain access to stable housing, while investors gain exposure to a resilient sector supported by federal tax credit programs that have historically provided stable returns even during economic downturns.
Summary
Manulife Investment Management (Manulife IM), a subsidiary of Manulife Wealth & Asset Management, and TruAmerica Multifamily have formed a groundbreaking $1 billion Affordable Housing joint venture named Anchor Point Residential. This strategic partnership represents a major expansion of both firms' affordable housing platforms, anchored by the acquisition of General Partner interests in a geographically diverse portfolio of high-quality, income-restricted assets backed by Low-Income Housing Tax Credits. The venture responds to the fundamental and chronic undersupply of housing across the U.S., exacerbated by rising construction costs, elevated interest rates, and widening rent burdens that have created unprecedented demand for affordable housing solutions.
The new platform debuts with the acquisition of a massive 51-property, 6,000-unit portfolio constructed between 2003 and 2023, strategically located across major metro areas in California, Texas, and Washington including Los Angeles, San Diego, Orange County, Sacramento, Bakersfield, Palmdale, Austin, Houston, and Dallas-Fort Worth. Marc Feliciano, Global Head of Real Estate at Manulife IM, emphasized that this initiative reinforces their commitment to finding strategic solutions to increase access to affordable housing, while Noah Hochman, Co-Chief Investment Officer at TruAmerica, highlighted how this partnership represents a natural extension of their commitment to preserving high-quality housing that working families can afford.
This transaction is particularly notable in the Low-Income Housing Tax Credits sector, where deals of this scale and complexity remain rare, reflecting significant diligence including alignment with United States Department of Housing & Urban Development guidelines. The joint venture aligns with the increasingly urgent need for housing solutions serving low- to middle-income renters facing the greatest affordability strain, offering both stability and opportunity for institutional capital through long-term federal tax credit programs. The first tranche closed in August, with additional phases to follow throughout the fall, positioning the platform to create scalable, mission-aligned portfolios rooted in local need and durable cash flow.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Manulife and TruAmerica Launch $1B Affordable Housing Venture
