CEI-Boulos Capital Management

CEI-Boulos Portfolio

Our Impact

To date, CEI-Boulos has invested in 10 projects with a cumulative capitalization of approximately $407.6 million. Though still in the early stages, these high impact projects are projected to make the following impact*:

  •  913 permanent direct and indirect full time equivalent jobs; plus 409 jobs at tenant businesses
  • 2,206 construction jobs during the development of the projects in the portfolio
  • 8,140 customers/students/patients served annually via services housed by the projects
  • 1,223 housing units created or rehabilitated for rent, 796 of which are formally restricted to be affordable, with additional workforce housing units that are affordable but not formally restricted
  • Three brownfield sites remediated, two of which are within EPA designated “Superfund sites”
  • Two historic buildings rehabilitated
  • Five certified energy-efficient buildings developed, including two solar powered projects and a “net-zero” facility

*Projections of capital & impact provided by developers at the time of underwriting.

The Woodforest CEI-Boulos Opportunity Fund

The Woodforest CEI-Boulos Opportunity Fund is a $22 million real estate investment fund targeting projects within federally designated Opportunity Zones. The fund’s sole investor is Woodforest National Bank®, a privately owned national bank headquartered in The Woodlands, TX, that currently operates over 760 branches in 17 states proudly celebrating over 40 years in banking. The fund’s Social Impact Advisory Board provides input related to the impacts of proposed investments by using metrics aligned with the goals of the Community Reinvestment Act and the “Opportunity Zone Reporting Framework” developed by the U.S. Impact Investing Alliance, the Beeck Center at Georgetown University and the Federal Reserve Bank of New York.

The Woodforest CEI-Boulos Opportunity Fund Portfolio

Drone shot of a student housing complex

698 Prospect

Pembroke, NC

The University of North Carolina Pembroke (“UNCP”) Student Housing Project in Pembroke, NC has 138 units/498 beds of student housing adjacent to UNCP, a Native American founded university focused on serving students with low incomes. This small rural town is the political, economic and cultural center of the Lumbee Tribe, the largest Native American Tribe east of the Mississippi.

Download our full project summary (PDF).

Rendering of an attrative four-floor apartment building

Forge on North Main

Evansville, IN

The Forge on North Main Project in Evansville, IN, is the ground-up development of 180 units of affordable/workforce housing in the underinvested neighborhood on a remediated brownfield site. The project also brings a grocery store to this USDA designated “food desert.”

Download our full project summary (PDF)

People dining in an atrium under a large clock

Mercantile on Main

Rochester, NY

The Mercantile on Main in Rochester, NY, part of the 1.1 million square foot redevelopment of the historic Sibley Square downtown building, brings the first food hall to the city and food options to residents in the epicenter of a federally designated “low-income, low-access food desert,” removing common barriers to food entrepreneurship, and, along with an affiliated food business incubator, provides workforce training and entrepreneurship opportunities for individuals with low incomes.

Download our full project summary (PDF).

An overhead rendering of a multi-facility development

Sharswood Ridge

Philadelphia, PA

The Sharswood Ridge Project in Philadelphia, PA brings affordable and workforce housing, a grocery store, a bank branch and an urgent care medical clinic to the long underinvested Sharswood community, serving as a critical component of a comprehensive plan to revitalize the neighborhood.

Download our full project summary (PDF).

Rendering of a brick and glass medical office facility

St. Elizabeth East Campus

Washington, D.C.

The St. Elizabeth East Campus Project redevelops a historic landmark hospital campus in Washington, DC’s Anacostia neighborhood. The fund has invested in an office complex which houses a community-focused nonprofit healthcare provider in this federally designated “Medically Underserved Area.”

Download our full project summary (PDF)

St. James Hotel

Selma, AL

The St. James Hotel Restoration Project in Selma, AL, converts a shuttered asset that is central to the rural community’s rich history into a 55-key, Hilton™-branded, quality hotel that creates good jobs accessible to people with low incomes and supports the city’s growing civil rights tourism industry.

Download our full project summary (PDF)

A diverse group of individuals is smiling and clapping as they cut a ribbon in front of a building with the words Wesmont on the front

The Wesmont

Indianapolis, IN

The Wesmont Workforce Housing Project in Indianapolis, IN, is a transit-oriented development consisting of 188 units of affordable housing located on a former industrial brownfield site in the underinvested near Eastside neighborhood, one of only twenty-two federally designated “Promise Zones.”

Download our full project summary (PDF)

A rendering of a revitalized brick building with colorful awnings

Zero Energy North Affordable Housing Baltimore

Baltimore, Maryland

A zero energy, transit-oriented mixed-use development consisting of 20 units of affordable housing and four commercial storefronts, including a child care service provider, in the predominantly Black Penn North neighborhood in West Baltimore.

Download our full project summary (PDF).

The NBT CEI-Boulos Impact Fund

The NBT CEI-Boulos Impact Fund is a $20 million real estate investment fund targeting community-oriented real-estate projects in 26 counties across New York state.

NBT Bank is the sole investor in the fund, designed to support individuals and communities with low and moderate income through investments in high-impact, community-supported commercial real-estate projects located within the bank’s Community Reinvestment Act (CRA) assessment areas in New York

The NBT CEI-Boulos Impact Fund Portfolio

Your Project – Coming Soon

New York State

The fund targets high-impact projects located within the bank’s Community Reinvestment Act (CRA) assessment areas in New York State. The fund plans to make equity investments of $1 to 5 million per project and will co-invest in select commercial real estate developments with qualified and experienced sponsors. Investments will adhere to CRA requirements and produce compelling social and environmental impacts.

Click to download our current Term Sheet