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Rose Cos. Closes Smart Growth Fund

NEW YORK CITY-The $40-million investment fund is reportedly the first ever dedicated to transit-oriented communities and green management.

By Paul Bubny | Updated on September 23, 2009

NEW YORK CITY-Jonathan Rose Cos. says it has closed its Rose Smart Growth Investment Fund I, described in a release as the nation’s first fund dedicated to acquiring income-producing real estate near transit or in walkable communities, and to transforming these assets with green renovation and management practices. The fund closed at nearly $40 million.

Company president Jonathan F.P. Rose says in a release that the fund, launched in 2006, “has not only increased in value over the last few years, but has distributed a check every quarter to our investors from our properties’ cash flow, validating our investment thesis that careful consideration of the environmental and social impacts of real estate is good for the bottom line. Two of the fund’s early investments are national models for successful green retrofits of occupied properties, and all of the fund’s acquired assets experienced significant increases in occupancy levels and returns.”

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