Transactions
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Affordable Bridge to LIHTC Re-syndication
- Location: Washington, DC
- Property Type: Multifamily
- Investment Size: 15,250,000
Pembrook provided a $15,250,000 first mortgage acquisition bridge loan to acquire a 162-unit affordable apartment building slated for LIHTC re-syndication by a not-for-profit sponsor
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Preferred Equity Acquisition Facility
- Location: New York, NY and Los Angeles, CA
- Property Type: Multifamily
- Investment Size: 50,000,000 (up to)
Pembrook provided up to a $50,000,000 preferred equity investment behind multiple senior lenders to refinance existing subordinate financing of $18,400,000 at close with the remaining portion used for the acquisition and renovation of affordable housing in New York City and Los Angeles.
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New Construction Preferred Equity for Speculative Distribution Warehouse
- Location: Rock Hill, SC
- Property Type: Industrial
- Investment Size: 5,000,000
Pembrook provided a 80% LTC $5,000,000 preferred equity investment to facilitate the acquisition and construction of a 558,000 SF Distribution Warehouse.
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Affordable Bridge Plus Preferred Equity To LIHTC Re-syndication
- Location: Union City, GA
- Property Type: Multifamily
- Investment Size: 21,050,000
Pembrook provided a $21,050,000 investment to bridge through the initial acquisition compliance period. The investment was separated into two parts: the senior $13,575,000 first mortgage bridge loan and a $7,475,000 preferred equity investment
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Workforce Housing Construction Mezzanine
- Location: Reseda, CA
- Property Type: Multifamily
- Investment Size: 25,400,000
Pembrook provided a $25,400,000 mezzanine loan to complete the construction of a 250-unit, five-story multifamily apartment building located in Los Angeles, CA
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Preferred Equity Not-For-Profit Owner
- Location: Washington, DC
- Property Type: Office
- Investment Size: 12,500,000
Pembrook provided a 87% LTC $12,500,000 preferred equity investment to facilitate the acquisition and renovation of a 180,000 SF Washington, D.C. office building.
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Acquisition Bridge to LIHTC/HTC
- Location: Chicago, IL
- Property Type: Multifamily
- Investment Size: 16,600,000
Pembrook provided a $16,600,000 first mortgage bridge loan for acquisition, pre-development, and pre-syndication expenses for a 153-unit unsubsidized Single Room Occupancy (“SRO”) property, built in 1932, and located in the Gold Coast neighborhood of Chicago.
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Stretch Senior on Workforce Housing
- Location: Chicago, IL
- Property Type: Multifamily
- Investment Size: 20,300,000
Pembrook provided a 87% LTV, $20,300,000 first mortgage bridge loan to acquire and renovate a 348 unit, multi-property portfolio in South Chicago
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NYC Senior Construction Loan
- Location: Brooklyn, NY
- Property Type: Multifamily
- Investment Size: 8,670,992
Pembrook Community Investors LLC provided a $6,150,000 first leasehold mortgage and a $2,520,991.95 second mortgage to construct a 21,341 gross SF, six-story, mixed-use retail and multi-family building consisting of 18 residential apartments in Greenpoint, Brooklyn, New York
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Tax Exempt Bonds
- Location: Kansas City, MO
- Property Type: Mid-Rise Multifamily Portfolio
- Investment Size: 32,000,000
Pembrook originated $32,000,000 in tax exempt bonds, issued by the Kansas City IDA, to finance the on-going acquisition and rehabilitation of a Portfolio in the Hyde Park submarket of Kansas City, MO
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Affordable Bridge Plus Preferred Equity
- Location: Palm Harbor, FL
- Property Type: Multifamily
- Investment Size: 30,384,758
Pembrook provided a $23,000,000 first mortgage and $7,384,758 preferred equity bridge loan to acquire and renovate a 250 unit rental apartment complex located in Palm Harbor, Florida.
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Preferred Equity
- Location: Long Island, NY
- Property Type: Office
- Investment Size: 5,750,000
Pembrook provided a $5,750,000 preferred equity investment to recapitalize the partnership and provide capital to expand the property.