New partnership aims to increase affordable housing options in Texas

Deal will "revitalize low- and moderate-income communities" in the state

New partnership aims to increase affordable housing options in Texas

Guaranty Bancshares has announced a strategic partnership with Caliber, an alternative asset manager and fund sponsor, that will provide more affordable housing opportunities in Texas.

Through the agreement, Caliber and Guaranty’s bank subsidiary will invest $50 million in developing low- and moderate-income (LMI) neighborhoods across the state. Caliber will manage the capital alongside its Caliber Tax-Advantaged Opportunity Zone Fund.

Read more: Affordable housing supply plummets – Freddie Mac

Guaranty said that the partnership is in line with its efforts to drive investments that will revitalize communities through real estate developments.

“We are proud to be partnering with Caliber to provide an attractive capital source that will fund Caliber’s initiatives to revitalize low- and moderate-income communities within the Austin, Bryan/College Station and Dallas markets through their dedicated opportunity zone funds and other real estate centric funds,” Guaranty CEO Ty Abston said.

“This is a transformative time in Caliber’s history,” said John Hartman, chief investment officer of Caliber. “As we expand our investment platform across private and public markets, we anticipate that our partnership with Guaranty will continue to evolve and grow in tandem with our initiatives to develop wealth for our investors and the communities we invest in.”

LATEST NEWS