August 2023
Transaction Description:
George Smith Partners has successfully arranged a Programmatic Joint Venture Equity Structure valued at $7,700,000. This strategic arrangement will provide funding for three affordable multifamily projects in Washington DC. These Projects encompass the recapitalization of a fully stabilized property consisting of 49 units, the minor rehabilitation of 56 existing units, and the construction of 87 new ground-up units.
GSP skillfully orchestrated a programmatic equity agreement that provides investors with improved returns spanning a prolonged period. Consequently, the Sponsor and GSP collaboratively endeavored to secure a steadfast equity provider for their upcoming ventures. Simultaneously, the equity provider gains the privilege of tapping into the sponsor’s expansive project pipeline, thereby opening doors to potential future funding returns.
