Ethos Real Estate Closes Second Multifamily Acquisition as Part of Joint Venture with GCM Grosvenor Programs
Under the deal, Ethos will be converting the formerly market rate property into deed restricted affordable housing through a unique public private partnership that leverages a California statutory property tax exemption.
- Under the deal, Ethos will be converting the formerly market rate property into deed restricted affordable housing through a unique public private partnership that leverages a California statutory property tax exemption.
- “We are excited to be scaling the potential for public private partnership around the production of affordable housing,” said Jennifer McElyea, Ethos Real Estate Managing Partner.
- GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $73 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies.
- “We are proud to be partnering with Ethos in ways that creatively address the shortage of affordable housing in communities across California,” said Peter Braffman, Managing Director at GCM Grosvenor.