BOSTON–(BUSINESS WIRE)–Arctaris Impact Fund, LP (“Fund”), the flagship debt fund of Arctaris Impact Investors, LLC (“Arctaris”), has obtained a new $10 million warehouse line of credit (LOC) with KeyBank Community Development Lending and Investment (CDLI) through its Community Development Financial Institutions (CDFI) Group.
Archive for the ‘Press Release’ Category
Arctaris Impact Investors Completes Additional Growth Equity Investment in Up To Date Laundry, Sustaining Quality Jobs in Baltimore
BALTIMORE & BOSTON–(BUSINESS WIRE)–Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce a follow-on growth equity investment in Up To Date Laundry (“UTD”). One of the largest healthcare laundry facilities on the East Coast, UTD provides laundry services to healthcare providers across the mid-Atlantic, including University of Maryland Medical System, Johns Hopkins, and Einstein Medical Center. The investment in UTD is part of the Arctaris Baltimore Program, a $25 million commitment to invest in Baltimore’s underserved neighborhoods, created in partnership with The Abell Foundation and Neighborhood Impact Investment Fund (NIIF) and with support from Erie Insurance (ERIE) through its investment in the Arctaris Opportunity Zone Funds.
Arctaris Impact Awarded $30M of New Markets Tax Credit Allocation by U.S. Treasury’s CDFI Fund for Diversity and Impact Investments
BOSTON–(BUSINESS WIRE)–Arctaris Impact CDE, LLC was awarded $30M of New Markets Tax Credit Allocation (NMTC) by U.S. Treasury’s Community Development Financial Institution Fund to deploy capital into economically distressed communities and businesses. Arctaris will use its NMTC allocation to make flexible loans to minority-owned or controlled companies and other borrowers across real estate or operating businesses in the country.
BOSTON–(BUSINESS WIRE)–Arctaris Impact Investors, LLC (“Arctaris”), the largest impact-focused Opportunity Zone fund manager nationally1, released its 2021 Arctaris Impact Report: Resilience, Recovery, Revitalization. Arctaris made nine new investments and supported existing portfolio companies to weather the COVID-19 storm, expanding economic, social, and environmental impact in underserved communities. The impact report showcases Arctaris Impact’s commitment to creating and retaining living-wage jobs, racial equity, expanding access to critical products and services such as affordable broadband internet, healthy food, and housing, promoting diversity and inclusion, and advancing renewable energy projects and businesses.
Arctaris Announces Bank of America as Investor in New $25M Regional Opportunity Zone Program Focused on Diversity, Equity, Inclusion, and Community Revitalization
BOSTON–(BUSINESS WIRE)–Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce a recent investment from Bank of America (“BofA”) into the Arctaris Opportunity Zone Fund 2022. The investment will help spur a new Arctaris place-based investment program focused on the greater Hartford area with emphasis on diversity, equity, inclusion, and community revitalization.
GWI, Arctaris Impact and FAME Partner to Build Fiber Broadband Networks in 5 Maine Opportunity Zone Communities
Biddeford, ME, January 31, 2022 – Biddeford, Maine- Great Works Internet Partners (“GWI”), Arctaris Impact Investors, LLC (“Arctaris”), and the Finance Authority of Maine (“FAME”) announced plans today to build new fiber broadband networks for five communities in Maine, including South Portland, Millinocket, East Millinocket, Medway and Belfast. The projects are made possible through a partnership with FAME, which is providing a loan and commercial guarantee support to the project.
Arctaris Impact Invests in 13-Acre Opportunity Zone Development in Washington, D.C., Alongside Asland Capital Partners and Goldman Sachs
Boston, MA, December 8, 2021 – Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce its recent Opportunity Zone investment in a $600 million multi-phased development project spanning the Ward 7 and 8 neighborhoods of Washington, D.C. The project is expected to attract additional capital to the region for inclusive development.
Arctaris Launches Southwestern Pennsylvania Opportunity Zone Program; Completes First Regional Investment; Hires Pittsburgh Local Lee Kimball
Boston, September 9, 2021— Arctaris Impact Investors, LLC (“Arctaris”) along with the Richard King Mellon Foundation (“the Foundation”) announce the launch of the Arctaris Southwestern Pennsylvania Opportunity Zone Program and first investment in the region.