GS BRP Urban Joint Venture Fund

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.

Financial description

The Fund seeks to employ a disciplined investment approach to urban, multifamily markets with superior, risk-adjusted returns for BRP’s investors. Accordingly, the Fund will invest between $5 million and $30 million of equity in opportunities in which it can add value through ground-up development, physical improvements and changes in use.
BRP is committed to developing high performance properties with healthy indoor air quality and efficient energy and water usage. This includes green repositioning to enhance the value of acquired assets or new development with the latest in energy saving/green technology such as on-site cogeneration power plants which generate electricity heat and cooling. This process significantly reduces a building’s carbon footprint while lowering energy consumption and costs.