Miami, FL — January 9, 2019 – Pensam Residential, a national multi-housing owner and operator, announced today the closing of a senior equity investment to recapitalize an 11-property portfolio consisting of 1,368 active-adult apartment units located across the Northeast and Midwest United States.
Pensam’s investment will facilitate funding the construction and stabilization of the portfolio, currently under various stages of development. The transaction marks Pensam’s second investment with the sponsor, a full-service national real estate developer and operator of active adult apartment communities with over twenty years of experience.
“We are pleased to invest with a top tier sponsor in the active adult housing sector. This was a complex transaction involving multiple construction lenders in diverse geographic areas,” said Michael Stein, Founding Partner of Pensam Residential.
About Pensam Residential
Headquartered in Miami, Pensam Residential is a multi-housing owner and operator which manages a growing portfolio of properties across the United States.
Pensam encompasses all aspects of real estate property ownership and investment, including acquisition, financing, construction, repositioning, and management. Pensam has invested in over 35,000 units across 125 properties. For more information visit www.pensamresidential.com.
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