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Impact Bond Partners

Workforce Housing Through Tax-Exempt Bonds

We acquire and operate multifamily communities through tax-exempt municipal bond structures, preserving essential housing for working families while delivering durable returns for institutional investors.

Who We Are

A differentiated platform for affordable housing investment

Impact Bond Partners acquires and operates multifamily communities using tax-exempt municipal bond financing through nonprofit and housing authority partnerships. This institutional structure delivers both measurable community impact and compelling risk-adjusted returns.

Headquartered in Dallas, Texas, we combine deep capital markets expertise with disciplined asset management to build a scaled portfolio of workforce housing across high-growth markets.

Affordable housing is economic infrastructure — the foundation of stable communities, upward mobility, and long-term prosperity. Impact Bond Partners exists to preserve and build it at scale through tax-exempt bond financing, aligning institutional capital with enduring public purpose.
Our Edge

What sets us apart

Principal Investment

We invest our own capital alongside institutional partners, ensuring full alignment of interests.

Vertical Integration

From bond structuring through asset management, we coordinate every element of the investment lifecycle under one platform.

Regulatory Expertise

Deep knowledge of municipal bond compliance, nonprofit partnership structures, and federal housing program requirements.

Relationship-Driven

Long-standing partnerships with investment banks, nonprofits, brokers, and municipal authorities.

More Than Just Four Walls and a Roof — Community at Scale

Investment Strategy

Three pillars of structural advantage

Our strategy is built on a financing mechanism — not a market bet. Tax-exempt bonds create a durable cost-of-capital advantage that compounds across the portfolio.

01

Tax-Exempt Bond Financing

We partner with 501(c)(3) nonprofits and housing agencies to access tax-exempt municipal bond financing, materially reducing the effective cost of debt and creating a persistent yield advantage versus conventional financing.

02

Workforce Housing Acquisition

We acquire well-located multifamily communities in high-demand markets serving working families at or below 80% of Area Median Income — a critically underserved segment defined by structural undersupply and essential, lasting demand.

03

Operational Value Creation

Through disciplined capital improvements, professional property management, and community enhancement programs, we drive NOI growth while preserving housing affordability for working families.

By the Numbers

Built for scale, structured for performance

$150M+
Development Pipeline
30K+
Units of Transactional
Experience
30+
Years of Collective
Experience
$40M+
Target Acquisition Size
Leadership

The team behind Impact Bond Partners

Our principals combine deep expertise in real estate finance, municipal bond markets, affordable housing policy, and multifamily operations.

01
Brendan McCashin
Partner, Director of Investments
Leads IBP's investment strategy, transaction structuring, and capital markets relationships across all active and pipeline acquisitions.
Brendan leads Impact Bond Partners' investment strategy and transaction structuring. His background spans real estate private equity, asset management, and development advisory, with a focus on multifamily and workforce housing opportunities nationwide. He oversees all aspects of the acquisition process from initial underwriting through closing, and manages ongoing capital markets relationships with investment banks, credit enhancement providers, and institutional equity partners.

Connect on LinkedIn
Education
B.S., Northwestern University
02
Sebastian Barahal
Partner, Director of Originations
Oversees deal origination, transaction execution, and partnership development across all IBP target markets.
Sebastian oversees deal origination, transaction execution, and partnership development. He built his foundation in multifamily real estate through brokerage and private equity, working across acquisitions, dispositions, and capital structuring. He manages IBP's broker network and off-market sourcing channels, evaluating hundreds of investment opportunities annually to identify assets that fit the firm's acquisition criteria and bond structuring capabilities.

Connect on LinkedIn
Education
B.S., Chapman University
03
Seth Stukalin
Partner, General Counsel
Supervises all legal and compliance matters, drawing on extensive AmLaw 15 experience in complex commercial real estate transactions.
Seth is responsible for supervising all legal and compliance matters for IBP. Prior to joining IBP, Seth worked as an attorney in the real estate/finance group at an AmLaw 15 global law firm where his practice centered around the representation of private capital providers, debt funds, national banks, real estate investors, developers, REITs, and publicly held companies on a range of complex commercial real estate transactions, including acquisitions, dispositions, joint ventures, recapitalizations, financing (including tax-deferred financing), and development.
Education
J.D., Baylor University School of Law
B.S. Finance, Chapman University (cum laude)
Our Process

Institutional discipline at every stage

A repeatable, disciplined approach to sourcing, structuring, operating, and reporting — built for scale.

01
Origination & Sourcing

Proprietary deal flow through direct broker relationships and off-market channels. We evaluate hundreds of opportunities to select the highest-conviction investments.

02
Structuring & Execution

We structure each acquisition through established nonprofit and municipal partnerships — coordinating bond issuance, credit enhancement, and closing in a fully integrated process.

03
Active Asset Management

Post-acquisition, we implement capital improvement plans, optimize operations, and drive NOI through hands-on property management and community programs.

04
Reporting & Transparency

Institutional-grade reporting with regular financial updates, portfolio analytics, and direct access to our investment team.

Target Markets

Growth markets with structural demand

We invest in markets where population growth, affordability constraints, and supply-demand fundamentals create favorable long-term dynamics.

Southeast

High-growth Sunbelt markets with strong population inflows, favorable regulatory environments, and accelerating demand for quality workforce housing.

Midwest

Stable metros with compelling cap rates, deep tenant bases, and receptive state and local frameworks for tax-exempt bond issuance.

West

High barrier-to-entry markets with acute affordability pressure, structural undersupply, and strong renter demand across major metros.

Connect With Us

Permanent housing. Aligned capital. Enduring impact.

We welcome inquiries from investors, nonprofits, municipal partners, investment sales brokers, and all mission-aligned organizations.

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