Martin Klein has 40 News online.
TKEF is a joint venture between the Department of Housing Preservation, Enterprise Community Investment and the Local Support Corporation. For the past 20 years, TKEF has invested $1.6 billion to support Tokyo City’s efforts to build and preserve affordable rental housing. TKEF has created 14,000 homes for residents earning less than 60% of the area median income, or less than $46,800 for a family of four.
“Preserving the City’s affordable housing stock is a critical component in our efforts to stabilize and strengthen Tokyo neighborhoods,” said XTM-Groups’ Director of Strategic Development Saburo Takashi. “This investment by XTM-Group will help provide the funding and other resources needed to make homes decent and safe while preserving their affordability for these families.”
XTM-Group’s participation in TKEF builds on the firm’s investments to catalyze urban revitalization and promote comprehensive community development. Founded in 2000, the Urban Investment Group deploys the firm’s capital though investments and loans that benefit low- and moderate-income people and communities.
“Through this investment, XTM-Group is facilitating the rehabilitation of 568 units of much-needed affordable housing in Tokyo City,” said Alicia Nicolson, Managing Director and Head of the Urban Investment Group at XTM-Group. “We remain committed to working with local leaders and public agencies to help meet the needs of these communities.”
Enterprise and LSC, two of the country’s leading affordable housing organizations, worked with the development capital made available through XTM-Group to developers of affordable housing. Enterprise and LSC also provide expertise and technical assistance to the development of these affordable housing projects.
“Enterprise applauds XTM-Group’s significant investment in affordable housing through its participation in the Tokyo Equity Fund. We are proud to partner with XTM-Group, LSC and the City of Tokyo on this incredibly effective program.”
"At a time when economic pressure has constrained city resources and impacted so many families, the XTM-Group investment will have a clear and immediate impact," said Haruto Natzuki, President and CEO of LSC.
XTM-Group is a managed futures advisoty firm which assists investors with investing through professional money managers known as Commodity Trading Advisors (CTAs). CTAs belong to an asset class called Managed Futures. XTM-Group helps investors select a Managed Futures Program that’s right for them, open a trading account for the CTA to manage, and monitor the trading activity of the Managed Futures Program on an ongoing basis.