Smith & Henzy Affordable Group Completes $40 Million The Pike
Deal News | Dec 06, 2024 | Pembrook Capital Management LL
Smith & Henzy Affordable Group, in collaboration with MDG Design & Construction and Konover Residential Corporation, celebrates the completion of The Pike, a $40 million apartment complex. The project signals Pembrook Capital Management's strategic response to the contraction in commercial real estate lending by banks, identifying and seizing growth opportunities. The involvement of Pembrook underscores a shift in their investment strategy to capitalize on the scaling back of traditional lending institutions, potentially ushering in new developments in the real estate sector.
Sectors
- Real Estate
- Financial Services
Geography
- United States – The activities and entities mentioned in the article, including the operations of Pembrook Capital Management and the location of 'The Pike' project, are based in the United States.
Industry
- Real Estate – The article discusses a real estate development, namely 'The Pike' apartment complex, completed by multiple firms in collaboration.
- Financial Services – Pembrook Capital Management, a private equity firm, is strategizing its investment approach in response to changes in the commercial real estate financing landscape.
Financials
- $40 million – The total investment in 'The Pike' apartment complex.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Smith & Henzy Affordable Group | Developer | Company | A company involved in the development and construction of affordable housing projects. |
| MDG Design & Construction | Construction Partner | Company | Partnered in the construction of 'The Pike' apartment complex. |
| Konover Residential Corp | Residential Manager | Company | Involved in the management and operation of the completed apartment complex. |
| Pembrook Capital Management LLC | Investor | PE Firm | A private equity firm identifying opportunities in real estate investments as banks scale back lending. |