Founded in 2015, SoLa Impact’s mission is to deliver superior financial returns by driving positive social change in America’s toughest neighborhoods. With the thesis that a company could “do good” not only because it was the right thing to do, but because it made sense financially, SoLa Impact has grown from “2 guys in a garage” to over 100 employees. Using a data-driven approach to its investment strategy as well as all social impact initiatives, SoLa Impact has become LA’s largest Section 8 landlord and was recently named the Nation’s Leading Opportunity Zone Fund with an Urban Focus by Forbes Magazine.
Acquisitions and Development
Martin Muoto – Chief Executive Officer, Founder/Managing Member
Martin Muoto is the Founder and Managing Partner of the “SoLa Impact” family of social impact real estate funds. SoLa Impact’s funds are the largest purchaser of real estate in South LA and are focused on achieving market-rate returns while delivering on the mission of “Doing Well by Doing Good” and improving the lives of hundreds of residents in some of LA’s toughest neighborhoods. A professional investor and entrepreneur for over 20 years, Martin has been successful at leveraging private capital to drive positive social change. Martin began investing in multifamily real estate in South Central Los Angeles, Compton, Watts, and other neglected communities a decade before these areas became designated Opportunity Zones. SoLa Impact’s $100 million Opportunity Zone (OZ) Fund is one of the few OZ Funds that has already been actively deploying capital in LA’s OZs. Martin was previously an operating executive at several technology companies and a venture capital partner at Accretive Partners and General Atlantic Partners in New York. Martin immigrated from West Africa and graduated with Honors from the Wharton School of Business and the University of Pennsylvania.
Gray Lusk – Co-Founder/Operating Partner
Gray Lusk is the Co-Founder and Operating Partner of SoLa Impact Fund. Gray has been creating and managing real estate investment funds for the last decade and helped launch two social impact funds (SoLa Impact Fund I, II), and an Opportunity Zone Fund, all based in South Central. SoLa Impact Fund II has become one of the most active buyers in the greater Los Angeles area — deploying over $135M and rehabbing over 300 multifamily apartment buildings in the last year, of which a significant portion are already in designated Opportunity Zones. Both of SoLa’s Social Impact Funds are achieving above market returns while creating the real and measurable impact of improving the lives of the residents of L.A.’s most notorious neighborhoods.
SoLa’s Opportunity Zone Fund seeks to continue creating quality low-income housing combined with true social impact.
Sherri Francois – Chief Impact Officer
Sherri steers SoLa Impact’s social impact strategy, operations and development. Sherri leads the execution of SoLa Impact’s strategies to improve the lives of SoLa tenants, and provide educational opportunities for underserved youth in the company’s South LA community. In 2018, Sherri established SoLa’s nonprofit affiliate, The SoLa I CAN Foundation (I CAN), where she serves as the Executive Director and President of the Board. In addition to I CAN programs, Sherri is leading the development of South LA’s first technology and entrepreneurship center to spur a new generation of technology entrepreneurs in South Los Angeles.
Prior to joining SoLa, Sherri was an Emmy nominated television executive producer and director. She spent two decades overseeing television programs and documentaries, covering social issues throughout the world. Her work has been featured on CNN, NBC, and MTV among other outlets. Sherri is a South Los Angeles native. She volunteers her time to local nonprofit organizations including the Dream Street Foundation where she serves as a member of the board. Sherri graduated from the University of California, Los Angeles with a bachelor’s degree in Sociology.
Andy Chao – Director of Acquisitions
Andy joined SoLa in 2016 as the Director of Acquisitions. With 14 years of real estate experience, Andy started at a development firm specializing in senior condominiums and has held various roles in the industry from brokerage to development to asset management. Prior to joining SoLa, he worked as a principal advisor to an international family office for commercial and residential real estate in Downtown LA’s Arts District. He studied at USC and received a Masters of Real Estate Development from Columbia University. He specializes in acquisitions, transactions, and financial modeling.
Josh Oppenhuis – Director of Development
Josh joined SoLa in May 2018 to formulate Opportunity Zone strategies for the company, resulting in an innovative model for affordable housing funded entirely by private equity rather than traditional tax credits. His wide-ranging background includes the technology, project management, and legal fields, which he applies at SoLa to finding creative solutions in land use policy and the building code. With 8 years of experience operating his own consulting firm, Josh leads a Development team that is confronting the housing crisis with a large pipeline of projects. Josh has worked previously for FTI Consulting and Motorola, and holds an MS in Information and Communication Sciences from Ball State University.
Joe El Rady – Vice President of Finance
Joe is Vice President of Finance at SoLa, where he manages the firm’s financial operations, analyses, and reporting.
Joe began his finance career at Houlihan Lokey, Wall Street’s preeminent financial restructuring firm. During his time as an investment banker at Houlihan Lokey, Joe focused on private placements of debt and equity securities in connection with restructurings, refinancings, special situations, distressed acquisitions, leveraged buyouts, and recapitalizations. After Houlihan Lokey, Joe served as Vice President with Frontier Group, helping to manage their Asian Private Equity Fund in Hong Kong before returning to Los Angeles to help grow Roman Group, a real estate private equity firm with $60mm of assets.
Joe is a frequent writer, blogger, lecturer, and speaker on financial and economic issues. He teaches finance at UCLA Extension and is working on his first book. Joe spends most of his private time on sports/fitness and also contributes to various causes and charities. He is a former Chief Financial Officer and member of the board of trustees of the Orange County Family Justice Center Foundation. His main passions in life are vintage European cars and coffee.
Joe holds an undergraduate degree with honors from Stanford University and an MBA in finance from the Wharton School. He wrote an MBA thesis on the development of the California economy. He speaks fluent Arabic, Armenian, and Spanish and is learning Italian and French.
Bill O’Neil – Director of Asset Management
Bill ensures that SoLa’s properties operate as efficiently as possible, by maximizing revenue and minimizing waste. Additionally, he secures SoLa’s financing through a variety of debt instruments including traditional bank financing, credit facilities, and Agency programs. He brings to SoLa nearly 20 years of experience in real estate financing, property management, and multifamily property ownership. Bill earned a Bachelor of Arts, History, from UCLA, and enjoys mountain biking, motorcycling, and making music.
Jessica Coffey – Human Resources Manager
As Human Resources Manager at SoLa, Jessica is responsible for the recruitment and onboarding of new staff, employee relations, professional development, benefits administration, and the implementation of company policies. Jessica graduated from UCSB with a bachelor’s degree in Communications and Spanish. She has held administrative roles in various industries, and found her niche in HR while working for an agency that provided therapy for children with autism. It was there she realized her strength in building relationships with employees company-wide, and discovered the true value in being part of a mission for helping others. Jessica believes you should love what you do and do what you love, and working at SoLa has made that possible.
Mike Mahurin – General Counsel & Chief Compliance Officer
Mike Mahurin is General Counsel and Chief Compliance Officer for the “SoLa Impact” family of social impact real estate funds and brings over 20 years of experience in real estate to SoLa Impact. Mike comes to SoLa Impact most recently from the Corporate and Banking Department of the international law firm of Sidley Austin LLP where he represented both the largest developers and the largest financial services companies in the single-family residential financing space helping close multiple billion-dollar transactions. In addition to his experience in real estate law, Mike has an extensive background in the areas of employment law and in both corporate and high net worth individual bankruptcy reorganizations. Mike graduated from Pepperdine School of Law and received his undergraduate education at the University of Washington. Mike is an experienced real estate investor owning properties across nearly every asset class.
Outside of SoLa, Mike has competed in the Hawaii Ironman World Championship, has three marathon victories to his credit and has one cash on the World Poker Tour in his only attempt.
Malcolm Rivera – Director of Property Management
Malcolm joined SoLa in August of 2019 and oversees all of the Property Management activities for the SoLa family of funds. Malcolm relocated from New York in 2016 where he was a managing partner of a property management company for over 25 years. Malcolm has extensive experience with Federal, State, and local Section 8 authorities and managing multifamily residential and commercial properties.