Rose development fund closes at $40 million

TRD New York /
Sep.September 23, 2009 11:59 AM

Jonathan Rose Companies’ fund Rose Smart Growth Investment Fund I closed yesterday at nearly $40 million, according to a press release from the company. The fund, formed in 2006, was the first to focus on buying real estate in transit-heavy communities and renovating those assets in environmentally friendly ways, the statement says. The redevelopment projects include a 198-unit apartment complex at 107-145 West 135th Street in Harlem and Tapestry, a 185-unit building 245 East 124th Street, East Harlem’s first LEED-certified rental building, according to Warburg Realty, which is marketing Tapestry. Jonathan Rose, president of Jonathan Rose Companies, said that the fund has shown consistent positive growth throughout its lifetime. “The fund has not only increased in value over the last few years, but has distributed a check every quarter to our investors from our properties’ cash flow,” Rose said. “All of the fund’s acquired assets experienced significant increases in occupancy levels and returns.” TRD


Related Articles

arrow_forward_ios
Mayor Bill de Blasio at a Green New Deal rally at Trump Tower (Credit: Getty Images)

Not just Trump Tower: These NYC buildings would get absolutely hammered by Green New Deal fines

Comptroller Scott Stringer (Credit: Getty Images)

City slow to spend $15B in Superstorm Sandy aid: Stringer

Time Equities CEO Francis Greenburger and Empire State Realty Trust CEO Anthony Malkin (Credit: Getty Images and iStock)

Going green has some city landlords seeing red

Public housing is excluded from the city’s clean-energy plan

Public housing is excluded from the city’s clean-energy plan

City Council just created the “largest disruption in the history of New York City real estate”

City Council just created the “largest disruption in the history of New York City real estate”

NY is introducing its own Green New Deal

NY is introducing its own Green New Deal

Bricks and… wood? Green developers are embracing timber

Bricks and… wood? Green developers are embracing timber

This City Council bill would require landlords to retrofit buildings

This City Council bill would require landlords to retrofit buildings

arrow_forward_ios