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Turner Impact Capital and Kalterra Capital Partners acquired the 376-unit Kinstead housing community in McKinney, Texas. As part of the acquisition, the joint venture will convert more than half the units, 191 in total, into income-restricted housing affordable for renters earning 30% to 80% of Area Median Income.

Under the agreement with the Housing Authority of the City of McKinney, the Turner-Kalterra joint venture holds a 99-year master lease. It will restrict 29 Kinstead units (7.7%) to 30% AMI renters and 162 units (43.1%) to 80% AMI renters, with the remaining 185 units (49.2%) priced at market.