LOS ANGELES, May 18, 2020 /PRNewswire/ -- GLD Partners, LP, a Los Angeles-based investment firm ("GLD" or, "we") announced today the launch of GLD Urban Renewal Fund I, LLC (the "Fund"), a new investment fund that will focus on mixed-use, multi-family investment opportunities in urban renewal areas. Urban renewal is the transformation of existing urban areas to accommodate much denser and generally mixed used environments. Investments in urban renewal opportunities enable the use and development of an area to better align with the current and future needs of a growing city. It can generate a number of benefits including new infrastructure, better use of existing infrastructure, increased productivity, additional expenditure and new employment opportunities. The Fund intends to create a portfolio of more than 10,000 multi-family units by 2025, with a particular focus on adaptive reuse, historic rehabilitation and mixed-use projects.
Daniel Gordon, Managing Director of GLD, stated, "For several years now, we have been keenly interested in the multi-family market. We believe that there are unique opportunities to deploy capital in select US cities that will complement their existing development initiatives while yielding attractive returns on our investment."
GLD intends to initially target cities with populations greater than 100,000 residents that have established, municipally supported redevelopment and renewal strategies. The Fund's investments will be a combination of real estate acquisitions as well as investments in debt and equity securities. All investments will adhere to GLD's previously stated commitment to environmentally conscious management standards.
Sean McKay, GLD's Real Estate Investment Portfolio Manager, stated, "The Fund permits GLD to deploy capital in a fast-growing segment in the real estate market that offers compelling long-term value creation. Our real estate team has over 200 years of combined experience in real estate acquisition, finance, construction and development and GLD has been an active real estate investor – at all levels of the capital stack – since its inception. This team is well positioned to pursue these opportunities which will mutually beneficial rewards to our investors and the cities in which we invest."
About GLD Partners
GLD Partners, LP is a private investment company with holdings in securities, real estate, operating companies and other asset categories. GLD seeks to opportunistically deploy its capital and apply its investment management expertise to undervalued assets and asset categories with an aim toward long term value creation. Headquartered in Los Angeles, California, GLD has offices in Hong Kong and New York.
SOURCE GLD Partners, LP