NEW YORK, Aug. 9, 2017 /PRNewswire/ -- Pembrook Capital Management LLC ("Pembrook") today announced a financial grant to Washington Metropolitan Opportunity Academy, a regional Washington D.C. high school dedicated to providing students with the academic skills and executive functions needed to be productive change agents in their communities. The announcement was made by Pembrook's founder and chief executive, Stuart J. Boesky.
Pembrook is an investment manager focused on providing loans and other financing for the development, rehabilitation, and preservation of affordable housing, as well as office, retail, and industrial properties, in underserved areas on a national basis. This contribution to Washington Metropolitan Opportunity Academy supports the firm's new corporate program that provides financial grants to public schools in neighborhoods where it does business, targeted to total up to 3% of the firm's annual profits. Pembrook recently provided additional grants to schools in Compton, CA and Visalia, CA.
Earlier this year, Pembrook provided a $15.25 million first mortgage bridge loan to National Housing Trust - Enterprise Preservation Corporation (NHT-E), a Washington D.C. based national not-for-profit affordable housing preservation owner and developer. The financing allowed the borrower to acquire a 160-unit affordable apartment building known as Mass Place, located at 1111 Massachusetts Avenue, NW, as well as facilitate a plan to undertake extensive renovations at the property. NHT-E plans to preserve Mass Place as affordable housing under the Low Income Housing Tax Credit program.
"Pembrook is proud to give back to the communities we do business in and especially proud to support local education," added Boesky. "We have been inspired by the outstanding work that Washington Metropolitan High School does to empower and prepare its students for the future and we're pleased to provide additional funding to support their vision. Pembrook strongly believes that education is the cornerstone for success and hope our concept of supporting schools in the communities we invest in becomes a model program for others in commercial real estate."
The Washington Metropolitan Opportunity Academy offers a therapeutic approach with optional gender specific programming and a middle grades program to students ages 15-20. Students also participate in an introduction to careers course and are given intensive college exposure and the ability to choose several career and technical education courses. The Washington Metropolitan Opportunity Academy also offers individualized academic programming through Summit Personalized Learning and activities that extend beyond the walls of the building allowing students to use the world around them, as well as activities and areas designed for health wellness and social emotional learning.
Pembrook is a real estate investment manager that provides financing throughout the capital structure. The firm has originated or participated in investments totaling over $1 billion since it began investing in 2007.
About Pembrook Capital Management, LLC
Founded in 2006 by Stuart J. Boesky, Pembrook Capital Management invests in and originates commercial real estate debt to finance all parts of a capital structure including first mortgages, mezzanine, bridge loans, note financings, and preferred equity across the United States. The firm invests in most commercial real estate property categories, including multifamily, office, retail and industrial. http://www.pembrookgroup.com/