Stuart J. Boesky, founder and CEO of Pembrook Capital Management Stuart J. Boesky, founder and CEO of Pembrook Capital Management

NEW YORK CITY—Prana Investments received $50 million of preferred equity investment from Pembrook Capital Management. The financing will allow Prana to continue to acquire additional workforce housing in Los Angeles and in New York City. Founded in 1982, Prana invests in rent-regulated multifamily assets in both of those cities, as well as in San Francisco, where the company is based.

“We’re pleased to structure an investment that will improve the sponsor’s portfolio as well as provide funding to acquire additional affordable housing units on both coasts,” says Stuart J. Boesky, Pembrook’s founder and CEO. He notes both Los Angeles and New York City have critical shortages of affordable multifamily housing, and are cities where Pembrook expects continued high demand for quality, reasonably priced multifamily properties.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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