Turner Impact Capital has launched another multifamily housing fund and plans to invest in more communities.

Under Turner Multifamily Impact Fund III, the company said in a statement that it expects to raise $750 million. The capital will allow the private equity firm to spend more than potentially $2.3 billion on developing new and purchasing existing affordable housing communities in what it identifies as high-demand areas, which includes Metropolitan regions.

Already, Fund III has snatched up a Las Vegas 336-unit apartment complex, and a 147-unit one in Minneapolis. Plus, Turner said that it is under contract to acquire three more properties. That would bring Fund III's total to almost 1,300 units and more than $200 million in allocations thus far. Along with purchases and new developments, Fund III will potentially explore, partnerships, joint ventures, recapitalizations, and opportunities in affordable workforce housing.