ASREF II’s $20.96M preferred equity investment in Infinity Capital Partners will fund the acquisition and renovation of Infinity HAP Portfolio, a group of eight apartment complexes throughout Georgia, North and South Carolina.
The Infinity HAP Portfolio is a 1,272-unit affordable housing portfolio spanning North Carolina and South Carolina, consisting of seven communities built between 1968 and 1973:
Brentwood Crossing (High Point, NC)
Boulder Creek (Greenville, SC)
Crescent Hill Apartments (Spartanburg, SC)
Roosevelt Gardens (Orangeburg, SC)
Spring Grove Apartments (Taylors, SC)
Cedar Moor Apartments (Raleigh, NC)
Timber Ridge (Charlotte, NC)
Brittany & Park (Valdosta, GA)
Approximately 95% of units are supported by HUD Housing Assistance Program (HAP) vouchers, making them accessible to residents earning just 30% of the Area Median Income (AMI). Infinity is undertaking in-place renovations across the portfolio, including new flooring, cabinets, appliances, and security systems, while also addressing deferred maintenance like roofing, HVAC, and plumbing, preserving high-quality, affordable housing without tenant displacement.
| Asset Type | Multi-Family Residential |
| Development Type | Redevelopment |
| Previous Use | Multi-Family Residential |
| Investment Closing Date | January & August 2025 |
| Total Development Area | 1,191,201 |
| Construction Timeframe | 24 months post-close |
$81.7M
$81.7M
$20.96M
$23.37M
$44.33M
American South Capital Partners collects each project's census tract income level at the time of close as part of CRA reporting guidelines. Source: Federal Financial Institutions Examination Council Geocoder.
INFINITY CAPITAL PARTNERS (“Infinity”) is an independent, privately owned alternative investment manager based in Atlanta, Georgia. Founded in 2002, Infinity is owned and managed by its principal partners. Infinity’s investors include high net worth individuals, family offices, wealth management firms, and institutional investors.
| Location | Various |
| Area | Georgia, North and South Carolina |
| LMI Community Status | Varies |
| Unemployment Rate | Varies |
| Poverty Rate | 29% |
| % Minority | Varies |
ASREF II’s $20.96 million preferred equity investment in Infinity HAP Portfolio will preserve the availability of quality affordable housing. The HAP program will ensure long-term affordability.
