Stuart J. Boesky, founder and CEO ofPembrook Capital Management
NEW YORK CITY—Prana Investments received $50 million ofpreferred equity investment from Pembrook Capital Management. Thefinancing will allow Prana to continue to acquire additionalworkforce housing in Los Angeles and in New York City. Founded in1982, Prana invests in rent-regulated multifamily assets in both ofthose cities, as well as in San Francisco, where the company isbased.
“We're pleased to structure an investment that will improve thesponsor's portfolio as well as provide funding to acquireadditional affordable housing units on both coasts,” says Stuart J.Boesky, Pembrook's founder and CEO. He notes both Los Angeles andNew York City have critical shortages of affordable multifamilyhousing, and are cities where Pembrook expects continued highdemand 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 GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
