Pembrook Continues School Contribution Program with Donation to Shaker Schools Foundation in Shaker Heights, OH
SHAKER HEIGHTS, Ohio, July 6, 2021 /PRNewswire/ -- Pembrook Capital Management LLC ("Pembrook") announced a donation to Shaker Schools Foundation, a charitable educational program designed to support students in the Shaker Heights, OH community.
The Shaker Schools Foundation cultivates resources to advance equitable access and enhance opportunities in and out of the classroom for local students. Pembrook's donation will be used to support the Foundation's Beyond The Desk fund, a scholarship program that encourages students to explore additional educational opportunities and other extracurricular activities throughout the Shaker Heights community.
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. The company's donation is part of its ongoing program to provide financial support to public schools in neighborhoods where it does business, targeted to total up to 3% of the firm's annual profits.
The firm recently provided a $17,764,288 loan to Significan Lifestyle Communities for the acquisition and renovation of a value-add multifamily portfolio comprised of six buildings and 275 units in the Shaker Heights market, which include the following:
- Colton House, a 45-unit apartment community located at 20825 Chagrin Blvd
- Golfview, a 56-unit apartment community located at 3363 Warrensville Center
- Fairway-Marchmont Terrace, an 87-unit apartment community located at 3310 Warrensville Center Rd
- Aristocrat, a 59-unit apartment community located at 3310 Warrensville Center Rd
- Moreland Manor, a 28-unit apartment community located at 15715-15725 Van Aken Boulevard
"Pembrook Capital Management prides itself in not only financing affordable housing across the country, but also supporting the communities in which we invest," said Stuart Boesky, CEO of Pembrook. "We're happy to support the Shaker Schools Foundation which continues to enrich the lives of students in the local Shaker Heights community. Pembrook shares their belief in cultivating and developing young people through worthy programs such as the Beyond The Desk initiative and we're pleased to donate to such a great cause."
Pembrook has already provided financial support to schools in several major cities across the United States, matching each lending transaction with a local school donation. The firm has originated or participated in investments totaling approximately $1.5 billion since it began investing in 2007.
About Pembrook Capital Management, LLC
Founded in 2006 by Stuart J. Boesky, Pembrook Capital Management invests in a variety of commercial real estate with a core emphasis on impact investing and affordable housing across the country. This firm's strategy involves commercial real estate debt, including first mortgages, mezzanine, bridge loans, note financings, and preferred equity. http://www.pembrookgroup.com/
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SOURCE Pembrook
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