Pembrook Launches Public Education Contribution Program, Planning Grants up to 3% of Annual Profits to Schools in Cities Where Real Estate Firm Invests

NEW YORK, July 26, 2017 /PRNewswire/ -- Pembrook Capital Management LLC ("Pembrook") today announced a new program offering financial grants to public schools located in neighborhoods where Pembrook does business.  Pembrook is an investment manager focused on providing loans and other financing for the development, rehabilitation, and preservation of affordable housing, as well as office, retail, and industrial properties, in underserved areas on a national basis.  Contributions under the new program are initially targeted to total up to 3% of Pembrook's annual profits.

Pembrook's founder and chief executive, Stuart J. Boesky, has commenced the program by directing contributions to the local school systems in Compton, CA and Visalia, CA.  The Compton grant provides the template for the future of the program – a real estate financing transaction accompanied by a school contribution in the same neighborhood.  Pembrook recently provided an $7.57 million first mortgage loan to complete the development of Alondra Villas in Compton, a partially completed 29-unit townhouse development located at 950 West Alondra Boulevard.  The Pembrook loan will allow the sponsor, Neighborhood Housing Services of Los Angeles County (NHS), to complete construction of the project and sell apartment units to a mix of buyers at different income levels.  At the same time, Pembrook has already provided a grant to the City's school system for the purchase of needed student supplies.

"The current administration in Washington, D.C. has a stated purpose of promoting public/private partnership.  In addition, they have adopted policies and a proposed budget that would reduce the amount of public funding available to public schools," Mr. Boesky noted.  "With these policies in mind, Pembrook has decided to provide grants to public schools located in the neighborhoods where we do business.  We have long believed that investment in education is vital to the future competitiveness of the American workforce, and we believe this new program is an appropriate way for us to manifest our support, in tandem with our business of providing financing for affordable housing and other properties in underserved areas.  Moreover, we believe that everything we do to improve the communities in which we do business will directly and positively impact our investment performance."

Pembrook is a real estate investment manager that provides financing throughout the capital structure.  The firm has originated or participated in investments totaling over $1 billion since it began investing in 2007.

About Pembrook Capital Management, LLC

Founded in 2006 by Stuart J. Boesky, Pembrook Capital Management invests in and originates commercial real estate debt to finance all parts of a capital structure including first mortgages, mezzanine, bridge loans, note financings, and preferred equity across the United States. The firm invests in most commercial real estate property categories, including multifamily, office, retail and industrial.  http://www.pembrookgroup.com/

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SOURCE Pembrook Capital Management, LLC

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