NEW YORK CITY—BRP Companies plans to launch a $75 millioninvestment fund that will leverage upwards of $250 million of newresidential development around the New York City metropolitan areaand New Jersey. The announcement comes as BRP completed an initialclosing with Goldman Sachs Urban Investment Group, which willprovide the equity in conjunction with other high net-worthindividuals.

Known as the “GS BRP Urban Joint Venture,” the fund will producesuperior risk-adjusted investment returns through the acquisition,development, repositioning, management, and disposition of adiversified portfolio of mixed-use, mixed-income residentialproperties in New York City, Westchester County, NY and NorthernNew Jersey.

“Our team's experience and track record in successfullynavigating the complexities of urban markets uniquely qualifies usto achieve attractive risk-adjusted returns for our investors.”says Geoff Flournoy, managing partner of BRP Companies. “We arebolstered by investors' confidence and look forward to the excitingprojects and opportunities this fund will create.”