NEW YORK--(BUSINESS WIRE)--The Church Pension Fund (CPF), a financial services organization that serves the Episcopal Church, has released a video highlighting an investment to provide affordable housing and community services to an underserved community. One of CPF’s many socially responsible investments, this investment supported the redevelopment of Northpointe Apartments, a multifamily affordable housing apartment complex located in Long Beach, CA. CPF served as an anchor investor in this investment, which was made with Avanath Capital Management, LLC, a minority-owned investment firm. The video can be viewed at www.cpg.org/srivideos.
“Where you live is such an important part of who you are, and if you can be proud of where you live it can make such a big difference in your life,” said Alan Snoddy, Managing Director of Investments at CPF. “We were proud to serve as an anchor investor in the redevelopment of Northpointe and build upon our nearly decade-long relationship with Avanath. As an anchor investor we hope to encourage others to invest in the affordable housing market, which could have a positive snowball effect and make a huge difference in the world.”
Daryl Carter, Founder, Chairman, and CEO of Avanath Capital Management, LLC, said, “Our investments have traditionally focused on housing in markets that have been typically underserved by institutional capital. Most of our residents work in the Long Beach area, and our dream was to create something here that supports their efforts to pursue the American dream. We have been able to prove that if we take care of our residents in the best possible manner, and if we try to make a positive impact on the community, that the returns do in fact come with this. I am very proud that our investment in Northpointe has changed its image from being a place where people had to live, to a place where they want to live.”
CPF’s socially responsible investing (SRI) focuses on investments that offer attractive risk-adjusted returns that also have a positive social impact. It currently has more than $1 billion of invested and committed capital in socially responsible investments in 25 countries. CPF’s SRI-related investments focus on economically targeted initiatives (urban redevelopment, affordable housing, sustainable agriculture, and microfinance) and environmentally responsible programs (sustainable forestry, clean technology, and green buildings).
Individuals interested in learning more about CPF’s SRI efforts can visit www.cpg.org/srivideos to view a series of Q&A-style videos featuring Mr. Snoddy and the Rev. Canon Anne Mallonee, Chief Ecclesiastical Officer of the Church Pension Group (CPG).
About Avanath Capital Management
Avanath Capital Management is a vertically integrated investment firm managing real estate and real estate-related investments generating attractive risk-adjusted returns through current income and capital appreciation from its investments. www.avanath.com
About The Church Pension Fund
The Church Pension Fund (CPF) is an independent financial services organization that serves the Episcopal Church. With approximately $13 billion in assets, CPF and its affiliated companies, collectively CPG, provide retirement, health, and life insurance benefits to clergy and lay employees of the Episcopal Church. CPG also offers property and casualty insurance as well as book and music publishing, including the official worship materials of the Episcopal Church. Learn more at www.cpg.org.