SP Investment Fund LLC and/or its affiliates (SP) invest in real estate and emerging technology with an emphasis on social impact investments.
Since 1990, SP has invested in government subsidized apartment buildings that are affordable to families and seniors with low and very low incomes. SP has invested in over 100 projects owning in excess of 10,000 units of housing.
SP has experience with a full array of government subsidy programs for affordable housing, including but not limited to Project Based Section 8, Tenant Based Section 8, Mark Up To Market, Mark to Market, State Agency Financed, tax-exempt bonds, Sec 42 LIHTC, FHA 236, FHA 221(d)(4), FHA 223(f), HOME, CDBG, Section 108 Loan Guarantee, Flex Subsidy, RAP, Mod Rehab, LIHPRA, ELIPHA, and Section 515.
SP seeks to create and preserve affordable housing that enhances the lives of the residents and communities we serve. We focus on attractive design and finishes, long term physical viability, and modern amenities and services appropriate to our partners, residents and communities. We use creative financing structures and implement long term affordability covenants. To accomplish this, we work with public and private sector partners to develop outstanding projects that residents and all other project stakeholders can feel proud to be a part of. To this end, SP has worked on affordable housing transactions with a number of non-profit organizations. More information.
In 2006, SP began providing important liquidity to limited partners and general partners in limited partnerships which own affordable housing. Many of these partnerships were created prior to 1986 as “tax shelters”, but now often generate substantial “phantom income” (i.e. taxable income in excess of any cash distributions). In many cases, limited partners in these partnerships have to reach into their own pockets to pay the taxes associated with their interest because the taxes exceed any distributions. More information.
In 2014, SP began investing in emerging technology companies. We have developed a focus on emerging technology investments that will have a positive social impact. As a result, emerging technology companies that SP has invested in have received grants from charitable organizations including, but not limited to, the Bill & Melinda Gates Foundation, USAID, the Department of Energy and DARPA. More information.