New York Developer Raises Fund for Affordable Housing
New York developer Jonathan F.P. Rose, founder and president of Jonathan Rose Cos. has raised a $233 million real-estate fund dedicated to affordable housing, the company’s largest such fund in a sector drawing more attention from investors.
The fund, which will acquire, improve and preserve affordable-housing properties, has secured commitments from about 125 investors, including the Ford Foundation, Deutsche Bank AG’s Community Development Finance Group and an affiliate of Nuveen, the asset management arm of financial-services giant TIAA, according to Jonathan Rose Cos. They were joined by other high net-worth individuals and family offices, pension funds, banks and nonprofit foundations, the company said. . .