Ethos Real Estate Closes Second Multifamily Acquisition as Part of Joint Venture with GCM Grosvenor Programs
Retrieved on:
Thursday, January 12, 2023
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.
Key Points:
- 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.