Edit GS BRP Urban Joint Venture Fund fund

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Description

GS BRP Urban Joint Venture Fund (Fund) will make real estate investments through the acquisition, development, repositioning and management of mixed-use, mixed-income residential properties in the New York City metropolitan area. Specifically, the Fund targets investments that are energy efficient/green, enjoy easy access to public transportation and are in-fill locations situated in areas of high population density.
The Fund is managed by a team of experienced real estate investment professionals led by Meredith Marshall and Geoff Flournoy, who founded BRP Development Corp. (BRP) in 2003. Together, the two principals have over 40 years of experience analyzing, underwriting, acquiring, financing, managing and disposing of residential and mixed-use assets. Additionally, BRP’s team has a diverse and deep background across multiple disciplines including transaction sourcing, investment underwriting, development, construction, and property management.
Accordingly, BRP has evolved into a fully integrated real estate company with a consistent record of developing and delivering over $211 million in completed, multifamily transactions, each of which is or was profitable at the time of exit by external investors. Moreover, BRP continues to identify attractive investment opportunities and is currently developing over $1 billion in real estate projects throughout the NYC area with over $575 million of potential pipeline deals.

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Impact thesis

BRP expects the Fund to positively impact the communities in which it invests. Since its inception, BRP has been dedicated to revitalizing underserved, urban areas and making these communities better places to live, work and shop. BRP has the experience and tenacity to operate amidst the complexities of the urban marketplace, particularly New York City.<br />
BRP targets investments that improve the social and economic conditions of the surrounding community. This includes creating job opportunities as well as enhanced and much needed retail (such as national chain pharmacies, organic green grocers, community centers and day care/early learning facilities).<br />
In addition, BRP’s commitment to green building includes both repositioning and new development with enhancements that provide tenants and buyers with healthier, energy efficient living environments and lower energy costs. Moreover, through transit oriented design (on sites within a one-quarter to one-half mile radius of a major transit stop), BRP strives to adhere to the “smart growth” principals of “development that serves the economy, the community, and the environment.”

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