Subject category:
Finance, Accounting and Control
Published by:
Columbia CaseWorks, Columbia Business School
Version: April 2, 2021
Length: 15 pages
Data source: Field research
Topics:
Martin Muoto; Gray Lusk; Affordable housing; SoLa Impact eSports and Tech Center; SoLa I Can Foundation; Opportunity zone; The Michaels Organization; The Pacific Companies; LDG Development; Phipps Houses; Urban Catalyst Opportunity Fund; Impact investing; Investor returns; Social good; The Beehive
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Abstract
From the time of its founding in 2014, the real estate development organization Solo Impact has focused on renovating rundown properties to create affordable residential units for underserved people in South Los Angeles-generating healthy financial returns for its investors and creating positive social change in the neighborhoods it served. In 2019 it expanded beyond residential projects into commercial real estate with the SoLa Impact Opportunity Zone fund. In December 2020, SoLa Impact announced the launch of a USD1 billion investment fund focused on the development of Black and Latinx neighborhoods. Named the Black Impact Fund, it would be the largest investment vehicle of its kind. If the Black Impact Fund was successful, it would increase the size of the organization more than five-fold and expand its reach beyond South Los Angeles. This case asks students to consider whether SoLa Impact can successfully scale up beyond South Los Angles-and whether its high-touch, high engagement investment model would require adjustments.
Teaching and learning
This item is suitable for undergraduate and postgraduate courses.Time period
The events covered by this case took place in 2019.Geographical setting
Country:
United States
Featured company
SoLa Impact
About
Abstract
From the time of its founding in 2014, the real estate development organization Solo Impact has focused on renovating rundown properties to create affordable residential units for underserved people in South Los Angeles-generating healthy financial returns for its investors and creating positive social change in the neighborhoods it served. In 2019 it expanded beyond residential projects into commercial real estate with the SoLa Impact Opportunity Zone fund. In December 2020, SoLa Impact announced the launch of a USD1 billion investment fund focused on the development of Black and Latinx neighborhoods. Named the Black Impact Fund, it would be the largest investment vehicle of its kind. If the Black Impact Fund was successful, it would increase the size of the organization more than five-fold and expand its reach beyond South Los Angeles. This case asks students to consider whether SoLa Impact can successfully scale up beyond South Los Angles-and whether its high-touch, high engagement investment model would require adjustments.
Teaching and learning
This item is suitable for undergraduate and postgraduate courses.Settings
Time period
The events covered by this case took place in 2019.Geographical setting
Country:
United States
Featured company
SoLa Impact