The Promise Homes Company (TPHC) is a single – family residential investment platform focused on affordability preservation, community reinvestment, and homeownership through the operation of it’s portfolio of affordable, single-family residential homes in the United States.
TPHC differentiates itself in the national real estate marketplace by creating both an institutional-quality investment platform as well as best-in-class resident, manager and vendor operating system. The company was establised with an institutional – quality operating platform with best-in-class support, backed by approximately $130 million in inital capital support from private investors.
John Hope Bryant, social entrepreneur, businessman, and founder of Operation HOPE, the global financial inclusion nonprofit organization, created Promise Homes. Under Bryant’s leadership, Operation HOPE has directed more than $2.5 billion into underserved communities over the past 25 years and has served more than three million clients from low wealth communities. Operation HOPE is recognized as a best-in-class nonprofit organization, operating in the top quartile of all nonprofit organizations in the nation and earning Charity Navigator’s top rating of four stars. In addition, Bryant is responsible for financial literacy becoming the official policy of the U.S. federal government.
Tony Ressler, Chairman, Co-Founder, & Chief Executive Officer of Ares Management, L.P. and Principal Owner of the Atlanta Hawks Basketball Club, and Michael Arougheti, Co-Founder, Director and President of Ares Management, L.P. and Executive Board Member of Operation HOPE, made a founding investment in the company and served on Promise Homes’ Investment Committee until 2021.
Promise Homes properties are managed by it’s internal property management platform, TPH Property Management Corporation
Promise Homes investments are located in diverse middle-class geographies that are underserved. These communities meet the qualifications under the Community Reinvestment Act (CRA) for U.S. financial institutions, and the company has a network of banks that have expressed interest or provided funding for its current and/or future acquisitions.