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Article: IGNIA Fund I Invests US$2 Million in Innovative Affordable Housing Development in Mexico.
- Article from:
- Science Letter
- Article date:
- September 23, 2008
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IGNIA Fund I, LP announced that, through its wholly-owned subsidiary IGNIA Bienes Raices S. de R.L. de C.V., it has entered into its first real estate transaction, an investment of US$2 million in the second stage of Jardines del Grijalva, a housing project in Chiapas, Mexico, enabling the expansion of the development to include affordable housing. As a result, Jardines del Grijalva will offer over 800 additional homes for families earning less than US$8,888 a year (or approximately US$2,222 per person) (see also Ignia Fund I).
With its investment, IGNIA is addressing the persistent funding gap faced by small and medium-sized construction companies as they seek to ...