RPCK advised Zoma Foundation on its $5 million senior secured loan facility to Landed—a San Francisco-based social enterprise that helps essential employees in public school systems buy homes.  The loan— which is structured as a program-related investment from the Foundation—provides Landed needed capital to launch a down payment assistance program to support educators and other public school employees in Denver, Colorado.

Ben Walton, founder of Zoma Foundation said, “The evidence is clear: having great educators in our schools is crucial to improving outcomes for students. Addressing the housing concerns of our educators is one more way to help our schools recruit and retain top talent.”

“Denver is one of least affordable cities in the country for educators,” according to Denver Public Schools Superintendent. “Without creative solutions like Landed, our educators cannot envision a future in our community. We believe Landed will be a valuable tool to improve district retention by providing educators with a pathway to homeownership.”

In this deal, the business terms were negotiated with close attention to the interests of the intended beneficiaries of the Landed program: the educators who will receive the down payment assistance. With this approach the RPCK team built the impact objectives into not only the loan documents but also into Landed’s agreements with the homebuyers. The RPCK team was led by Heather Eisenlord and Adhiti Gupta with strategic support from Chintan Panchal.

The Social Finance & Impact Investing team at RPCK works closely with foundation, family office, advisory and corporate clients to help structure and execute capital investments into companies, organizations, and funds with the intention of generating social and environmental impact alongside a financial return.

More information on the deal can be found here.