Rose development fund closes at $40 million

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
75 Linden Street is one of the houses being retrofitted with eco-friendly designs in Brooklyn. (Getty, Google Maps)
Bushwick retrofit project provides blueprint for greening buildings
Bushwick retrofit project provides blueprint for greening buildings
Redaptive CEO Arvin Vohra (LinkedIn; iStock)
Startup that helps building owners cut carbon footprint raises $157M
Startup that helps building owners cut carbon footprint raises $157M
President Donald Trump and Joseph Biden (Getty, iStock)
Real estate donors backing Biden over Trump
Real estate donors backing Biden over Trump
A rendering of Watershed (Rendering by Kilograph)
These real estate developers are serious about helping Mother Nature
These real estate developers are serious about helping Mother Nature
From left: G.H. Palmer's Geoffrey Palme, RFR Holdings' Aby Rosen, Macklowe Properties' Harry Macklowe, Thor Equities' Joseph Sitt and Ellicott Development's Carl Paladino (Getty, iStock)
Harry Macklowe, Aby Rosen and Joe Sitt among 6,500+ developers, landlords who got PPP bucks
Harry Macklowe, Aby Rosen and Joe Sitt among 6,500+ developers, landlords who got PPP bucks
Groupwork’s Amin Taha and Webb Yates’ Steve Webb (Credit: Groupwork, The Golden Sun project)
Building towers with stone could be the future, architects say
Building towers with stone could be the future, architects say
Local Law 97 is part of a push for a 40 percent reduction in citywide emissions by 2030 and 80 percent by 2050 (Illustration by Kevin Rebong for The Real Deal)
Real estate seeks changes to city’s green buildings bill
Real estate seeks changes to city’s green buildings bill
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
Not just Trump Tower: These NYC buildings would get absolutely hammered by Green New Deal fines
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...