jonathan rose companies, in partnership with …€¦ · santander bank is providing the...

NEWSRELEASE Contacts:EricGerard/KellyFerraro

Phone:(212)741-2977

Email: eric@greatink.comkelly@greatink.com

JONATHANROSECOMPANIES,INPARTNERSHIPWITHBEDROCKREALESTATEPARTNERSLLC,HASCLOSEDON$144MILLIONINDEBT&EQUITYFINANCINGFORTHEPIERREPONT

***CONSTRUCTIONCOMMENCESON86-UNITMIXED-INCOMERESIDENTIALBUILDING

INBROOKLYNHEIGHTS

(Brooklyn,NY.–December1,2016)–AjointventureofJonathanRoseCompanies(JRCo)andBedRockRealEstatePartnersLLC(BR)hasclosedon$144millionofdebtandequityfinancingforThePierrepont,anew86-unit80/20mixed-incomerentalresidentialbuildingwhichiscurrentlyunderconstruction.Thetwo19-storytowersfacePierrepontandMontagueStreetsintheBrooklynHeightssectionofBrooklyn,NewYork.SantanderBankisprovidingtheconstructionfinancing.JDCapital,apublicassetinvestmentandadvisoryfirmbasedinChina,isprovidingadditionalequity.JDCapitalisadvisedbyDallas-basedL&BRealtyAdvisors,LLP,anSEC-registeredrealestateinvestmentadvisor,with$8.5billioninassetsundermanagement.The160,000-grosssquare-footprojectwillcontain86apartments,withanumberoflarge,family-orientedunits,afloorofdedicatedamenitiesandapproximately6,000squarefeetofgroundfloorretailwithstreetfrontageonbothMontagueandPierrepont.SantanderisleasingtheMontaguesideoftheprojectforabankbranch.Constructionisexpectedtobecompletedin24months.ThebuildingwillhavenumeroussustainablefeaturesthatwillexceedtherequirementsforEnterpriseGreenCommunitiescertification.“BrooklynHeightsisanextraordinaryneighborhoodforfamilies,withacombinationofsuperbparks,schools,transportation,retailandneighborhoodcharacter,”saidJonathanF.P.Rose,PresidentofJonathanRoseCompanies.“WeareverypleasedtohaveJDjoinusasinvestorsinthisdevelopment,astheyshareourenthusiasmandvisionfortheprojectandwillmakegreatlongtermpartners.”

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AboutBedRockRealEstatePartnersLLCFoundedin2013byChuckBermanandTraceyAppelbaum,BedRockRealEstatePartnersLLC(akaCBDLLC)isaprivatelyheldinvestmentmanagerspecializinginthedevelopmentandacquisitionofrentalapartmentsandmixed-usedevelopmentsinurbanlocationsfromBostontoWashingtonDCwithaparticularfocusinNewYorkCity.Theirinvestorsincludearangeoffamilyofficesandhighnetworthindividualsseekingdirectinstitutionalqualityequityrealestateexposure.BedRockRealEstatePartnersLLCactivelyparticipatesinitsjointventuresasalimitedpartnerorco-generalpartner.Sinceinception,BedRockRealEstatePartnersLLChasinvestedin12projects,comprisingover1,100units,withassetsundermanagementofover$630million.Totalequityinvestedtodateisapproximately$140million.Mr.BermanandMs.Appelbaumhavespecializedintherevitalizationofurbanandhighdensitysuburbanareas.Bothhavedecadesofrealestateinvestment,development,construction,andmanagementexperience.Mr.BermanwasaManagingPrincipalandViceChairmanatMacFarlanePartnersurbaninvestmentgroupandMs.AppelbaumwasaPrincipalresponsibleforinvestmentanddevelopmentactivitiesontheEastCoast.TheirinvestmentsincludedTheTimeWarnerCenter,15CentralParkWest,TribecaGreen,Atelier,Mima,AlbeeSquareMallredevelopment,HarlemParkandWilliamsburgwaterfrontrentalapartmentsinNewYorkCity.Priortothat,Mr.BermanwasFounderandPresidentofAvalonProperties(NYSEREIT),apubliclytradedrealestateinvestmenttrustthat,throughsubsequentmerger,becameAvalonBayCommunities,oneofthelargestresidentialREITsintheUnitedStates.Mr.BermanservedasPresidentandMs.AppelbaumservedasaVicePresidentatAvalonBay.

AboutJonathanRoseCompaniesLLC:JonathanRoseCompanies,Inc.isanaward-winningrealestateinvestment,developmentandprojectmanagementfirmwhosemissionistorepairthefabricofcommunities.Thefirmisnationallyrecognizedforitsabilitytoachievevisionarygoalsthroughpractical,duplicablestrategies.Thefirmacquires,develops,andactsasaconsultanttoassistnotforprofitswithtransit-oriented,green,mixed-incomeresidential,innovativeoffice,civic,educationandhealthservingprojects.JonathanRoseCompanieshasdevelopedmorethan$1.5billionofrealestateprojectsfromofficesinNewYork,Connecticut,Colorado,thePacificNorthwestandNewMexico.Formoreinformation,visitwww.rosecompanies.com.

AboutJDCapital

Foundedin2007,JDCapitalisapublic,premierassetinvestmentandadvisoryfirmbasedinChina.JDwasawardedas“theBestPEInvestmentInstitutioninChina”in2011,2012and2015.JDCapitalhasU.S.officesinNewYorkCityandPaloAlto,CA.TheU.Steamfocusesoninvestmentsincommercialrealestatemarket,andhasmadeorcommittedtoseveralrealestateinvestmentsintheU.Ssince2014.

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