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NEW YORK CITY-Furthering its platform of investing inunderserved property sectors, Pembrook Capital Management has madean investment of $15 million in Seneca Nation of Indians specialobligation bonds. The bonds will be used to fund infrastructureprojects in the Seneca Nation's development and expansion in thewestern part of New York State.

The six-year, special obligation bonds due in 2013, carry aninterest rate of 6 ¾% and are a private placement under SEC Rule144A. According to a Pembrook release, "bond proceeds will helpfund upgrades, overdue maintenance and expansion of a key naturalgas well that services many of the nation's constituents andgovernment entities." In addition, some of the proceeds will beused for a wastewater treatment facility that serves a healthclinic, Early Childhood Learning Center, administrative complex andother facilities, along with the purchase of lands adjacent or nearthe Seneca Nation's territory, the release adds.