East Bay Permanent Real Estate Cooperative (EB PREC, pronounced “Ee-bee Preck”) is a community-owned cooperative led by and with BIPOC-identifying Oaklanders that takes property and land off the speculative market—a market that is displacing and gentrifying out multiple generations of African Americans—and then puts property ownership and governance in the hands of community members who reside there. 

In 2023, AmbitioUS approved purchasing an additional 100 equity shares in EB PREC’s (DPO) at the price of $1,000/share for a total investment of $100,000, along with a $50,000 one-year expenditure responsibility grant supporting staff time and operations.

EB PREC is the first real estate cooperative that qualified for a national Direct Public Offering (DPO). This allows local community members to invest in and own equity shares in culturally significant properties that will be purchased through this capital campaign, making cooperative-owners and investor-owners one and the same. As an investor-owner AmbitioUS waives our rights to receive dividends through EB PREC’s DPO as another way to support EB PREC with its cooperative structure that benefits African American communities in Oakland, CA, and retains their shared cultural identity.