Nashville-based Pathway Lending has launched a $30 million fund to acquire rental properties and keep them affordable for Tennesseans.

Pathway Lending Executive Vice President Hank Helton, left, and Pathway Housing Fund President Matt Wiltshire Photo: Pathway Lending

The community development financial institution’s Pathway Housing Fund will use the capital to acquire and preserve Naturally Occurring Affordable Housing (NOAH) properties that are facing gentrification and at risk of becoming unaffordable.

Initial investors include Pinnacle Financial Partners, Regions Bank and First Farmers and Merchants Bank.

According to a release, NOAH refers to unsubsidized rental properties whose rents are low enough to be affordable for moderate-income households.

By utilizing low-cost capital,

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