Jonathan Rose Companies, the New York-based real estate investment firm focused on environmentally friendly assets and developments, has raised nearly $40 million for its Rose Smart Growth Investment Fund I.
The fund is targeting income producing real estate in “transit-rich” markets cross the US, which have “strong intellectual capital” and “diversified economies”, elements, the firm said, would resist the global economic downturn best.
In an announcement by the firm yesterday, Jonathan Rose, who founded the firm in 1989, said that approximately $30 million of the capital raised had been deployed.
Rose said: “We created a new model for real estate investment, proving that in times of financial distress, the strongest real estate investment returns are realised by focusing on smart growth locations and intelligent green practices.”
He added: “The fund has not only increased in value over the last few years, but has distributed a cheque every quarter to our investors from our properties’ cash flow, validating our investment thesis that careful consideration of the environmental and social impacts of real estate is good for the bottom line.”