Woodforest National Bank's fund will benefit low- and moderate-income individuals.
THE WOODLANDS, TX—Woodforest National Bank recently created the Woodforest CEI-Boulos Opportunity Fund, a $20 million private real estate investment fund targeting projects in the recently designated Opportunity Zones across Woodforest's 17-state footprint. The fund will invest in real estate projects with the goal of promoting public welfare by benefitting low- and moderate-income individuals in areas designated as qualified Opportunity Zones.
The fund will be managed by CEI-Boulos Capital Management LLC, a joint venture of Coastal Enterprises, Inc./CEI, a national community development financial institution with a track record of meeting community needs in rural areas and small gateway cities, and The Boulos Company, a commercial real estate firm with experience in capital markets and real estate development. CEI-Boulos Capital Management will work closely with Woodforest to select and review potential investments.
The fund has adopted the opportunity zone impact reporting framework developed by a partnership of the US Impact Investing Alliance, the Beeck Center at Georgetown University and the Federal Reserve Bank of New York.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
