NOAH Impact Fund

Greater Minnesota Housing Fund, a statewide Community Development Financial Institution (CDFI), officially launched the NOAH Impact Fund in June 2017 with $25 million from seven impact investors to acquire 1,000 units of rental housing and maintain affordable rents for 15 years. The NOAH Impact Fund partners with socially motivated investors and rental property owner-operators to preserve the long-term affordability of units in opportunity areas.

The Fund provides 90% of the equity required to acquire the property, and the operating partner co-invests 10% of the equity. The balance of the acquisition financing is provided by conventional debt through Freddie Mac, up to 80% LTV. The NOAH Impact Fund is a subsidiary of Greater Minnesota Housing Fund.