The $25 million fund will invest equity in real estate developments with positive social impact.

Philadelphia, PA (January 21, 2025)– TD Bank and CEI-Boulos Capital Management, LLC announced the launch of the 481 CEI-Boulos Impact Fund, LLC, a $25 million real estate equity investment fund with TD Bank as the sole investor. The fund is designed to support low- and moderate-income individuals and communities within the bank’s Community Reinvestment Act (CRA) assessment area in the Philadelphia metro region by investing in high-impact, community-supported commercial real estate projects. The fund’s targeted geography includes counties in Pennsylvania, Delaware and New Jersey,

 “TD Bank is committed to the communities we serve,” said Keith Nisbet, Senior Vice President and Head of the Community Capital Group at TD Bank “This includes doing our part to create stronger, healthier neighborhoods. We believe that investments in projects that deliver critical affordable housing can also have a ripple effect in supporting job creation and strengthening our communities.” 

The 481 CEI-Boulos Impact Fund is managed by CEI-Boulos Capital Management, a fund management company focused on delivering both competitive financial returns and measurable social impact. CEI-Boulos specializes in helping banks meet their CRA objectives by organizing and managing funds that invest in financially viable, high-impact commercial real estate projects that benefit local communities. The fund’s investments will prioritize collaborations among non-profits, local and state governments, philanthropic institutions, community development finance institutions, community-based organizations, private investors and developers, fostering partnerships that enhance community well-being.

“We’re thrilled to be working with TD Bank on this innovative fund to invest in high-impact, community supported real estate projects in the Philadelphia region, especially much needed affordable and workforce housing.” said Sam Spencer, Chief Executive Officer and Managing Director, CEI-Boulos Capital Management. “Together, we aim to deliver long-term benefits to communities within the bank’s CRA assessment areas.”

The fund’s investment area includes the following counties in the Philadelphia metro region:

• Delaware: New Castle
• New Jersey: Burlington, Camden, Gloucester, Salem
• Pennsylvania: Bucks, Chester, Delaware, Montgomery, Philadelphia

The 481 CEI-Boulos Impact Fund is in the process of establishing a Social Impact Advisory Board of local and national community development experts to review the fund’s proposed project investments, including new construction and redevelopment projects such as multi-family housing, retail, office, and mixed-use redevelopments. The Social Impact Advisory Board will review proposed investments based on each project’s social and environmental impact, alignment with community needs, and community support. Areas of the fund’s targeted impact include:

• Projects that help create good jobs
• Affordable and workforce housing
• Main Street revitalization/historic preservation developments that do not contribute the displacement of current residents
• Developments that serve non-profit organizations
• Environmentally sustainable and transit-oriented real estate developments

Nancy Gephart, an experienced veteran of social impact real estate development in the Philadelphia metro region has recently joined CEI-Boulos Capital Management as Senior Vice President for Investments. Gephart, based in Philadelphia, will help lead the 481 CEI-Boulos Impact Fund as one of the fund’s Managing Directors.

The 481 CEI-Boulos Impact Fund represents TD Bank’s commitment to fostering equitable economic development and creating lasting social and environmental benefits within its CRA footprint. By investing in projects that address critical community needs, the fund aims to contribute to the economic vitality and quality of life for residents in the Philadelphia metro region.

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About TD Bank, America’s Most Convenient Bank^® 

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S. by assets, providing over 10 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth^®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Instagram at www.instagram.com/TDBank_US/.  

 TD Bank is a subsidiary of The Toronto-Dominion Bank, a top 10 North American bank. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD”. To learn more, visit www.td.com/us. 

About CEI-Boulos Capital Management
CEI-Boulos Capital Management is a real estate investment fund management company focused on delivering both competitive financial returns and social impact. The company serves banks, family offices, and other institutional investors, and has a national scope. Areas of the company’s specialization include Opportunity Zones and the Community Reinvestment Act (CRA). Learn more at www.ceiboulos.com.