Infinity Real Estate Partners has received an $18.75 million investment from American South Capital Partners (“ASCP”), a joint venture of SDS Capital Group and Vintage Realty Company, for the acquisition and renovation of a 1,068-unit affordable housing portfolio with assets located in North Carolina and South Carolina. 

The portfolio consists of seven communities built between 1968 and 1973 ranging in size from 81 to 200 units, 95% of which are governed by the U.S. Department of Housing and Urban Development Housing Assistance Program. 

• Boulder Creek, Greenville, SC 
• Crescent Hill Apartments, Spartanburg, SC 
• Roosevelt Gardens, Orangeburg, SC 
• Spring Grove Apartments, Taylors, SC 
• Cedar Moor Apartments, Raleigh, NC 
• Timber Ridge, Charlotte, NC 
• Brentwood Crossing, High Point, NC 

Approximately 25% of renters in each of these markets are severely rent burdened having to pay as much as 50% of their income on rent, according to the Harvard Joint Center for Housing Studies. 

“Infinity Real Estate Management is thrilled to announce the acquisition of an affordable housing portfolio, marking a significant step in our commitment to preserving housing affordability for the next 20 years,” said Infinity Real Estate Chief Investment Officer Gregory B. Jones. “This achievement would not have been possible without the invaluable support of our equity partner, American South Capital Partners. Together, we are ensuring that these homes remain accessible to families and individuals who need them most, reinforcing our shared mission to strengthen communities through sustainable and equitable housing solutions. Infinity and its partners are proud to play a role in creating long-term stability and opportunity, and we look forward to continuing this journey with partners who share our vision for a brighter future.” 

Infinity will use a portion of the investment to fund interior and exterior improvements across the portfolio including new appliances, cabinets and flooring.   So as not to displace tenants, Infinity will complete the renovations while units are occupied.  In addition to new security systems, Infinity also will address deferred maintenance repairing or replacing roofs, air conditioning and plumbing as needed.   

“Infinity has extensive experience with this asset type and with their programmatic approach to unit renovations, they will bring much needed quality affordable housing to their respective markets,” added David Alexander ASCP Managing Partner and CEO of Vintage Realty Company. 

Upon completion, 100% of the units will be affordable to individuals and families earning 60% or less of the area median income (“AMI”), qualifying the investment for 100 percent of Community Reinvestment Act Credit.   Additionally, through its non-profit partner Mercy Housing, each property will have a dedicated community coordinator that works with local organizations to provide supplemental services like after school care, financial literacy, and resume services for tenants. 

ASCP invests in affordable housing real estate projects located in 10 Southern states (Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas).  ASCP funds have collectively committed more than $176 million to 26 projects, financing more than 7,025 housing units – 82% of them affordable to families at less than 80% of the AMI. 

“Maintaining this housing as affordable – as well as improving the quality of the housing - was critical to ASCP as an investor. This investment is making a tangible impact on the lives of the families living here. We’ve been true to our mission. We hope this new partnership with Infinity only continues to grow and impact more families across the South,” said Deborah La Franchi, ASCP Managing Partner and SDS Capital Group CEO.