Terrace Manor, a multifamily building located in DC's  Ward 8, was launched when the residents joined together to rescue their homes after years of deferred maintenance under the previous property owner. The tenants then partnered with a developer who has long history of working in Southeast DC. With access to affordable housing in D.C. decreasing, this redevelopment will create more than 168 housing units for residents living below 50% of the area's median income.

“Capital Impact provided $2 million in financing as part of a larger $6.9 million loan. With further support from the city and other local groups, it is anticipated that the property will return to full occupancy and profitability once complete,” says Ellis Carr, President and CEO.

Another socially responsible project is the DCIS, financed with $8 million from Capital Impact, as part of a larger $55 million investment. With the infusion of funds, DCIS was recently able to move into a new, permanent campus. A high-performing charter school providing a multilingual education to 400 students in 6-8th grades, 50% of DCIS's socio-economically diverse student body qualify for free and reduced lunch.

Capital Impact's initial joint venture with Annaly invested in 13 loans across five states and the District of Columbia. This included a wide variety of social impact projects that increased access to affordable housing, health care, education, healthy food, and support of older adults to age in homelike care facilities, Carr tells GlobeSt.com.

Examples include the ability for KIPP Truth Academy in Dallas, Texas to nearly double their student enrollment. In Page, Arizona “we worked with Canyonlands Healthcare to refinance their existing debt, purchase new equipment, and make capital improvements. The federal government has designated many of the areas that Canyonlands provides services to as both a Health Professional Shortage Area and a Medically Underserved Area, so for many, this facility is their only option for quality health care,” says Carr.

The partnership is also closely aligned with Annaly's focus on housing finance given Capital Impact's work in preserving affordable housing.

“Supporting the kinds of high-impact projects that build equity and inclusion and help fuel inclusive growth requires a variety of dedicated partners. That is why we are proud to partner once again with Annaly Capital Management,” says Carr.

Capital Impact and Annaly's initial partnership, which was announced in November 2017, supports nearly 500,000 square feet in community development projects across the US. Projects include housing, education, health care, job training and healthy foods, employing 1,200 individuals. The charter schools funded through this partnership educate approximately 3,000 students, with 80% qualifying for free and reduced-priced lunches. The community health centers and eldercare residences supported by the joint venture provide care for nearly 30,000 patients, with 3,420 elders and nearly 14,000 below the poverty line served. Finally, the initial venture supports retail grocery that provides access to healthy foods in low-income areas and food production services.