NEW YORK, July 11, 2019 /PRNewswire/ -- Shorewood Real Estate Group, an industry-leading, multi-strategy real estate investment firm, today announced a $155 million Opportunity Zone partnership with Bridge Investment Group LLC and Capricorn Investment Group LLC. The partnership, which brings together three leaders in the Opportunity Zone space, will develop a 315-unit rental project in Jamaica, Queens.
"We're excited to align ourselves with such distinguished partners on this important project," said Shorewood President and CEO S. Lawrence Davis. "With our firms' combined experience in urban real estate, I'm confident this partnership will have a positive impact in Jamaica and other future community development projects."
Bridge Investment Group and Capricorn Investment Group are prominent investment firms with substantial assets under management and a focus on sustainable investments.
Bridge Investment Group is a privately-held real estate investment management firm with $16 billion in assets under management. Bridge combines its 2,700-person, nationwide operating platform with specialized teams of investment professionals focused on select US real estate verticals, which Bridge believes offer above-market opportunity: multifamily, office, seniors housing, affordable housing, opportunity zones, and debt strategies.
Founded in 2001, Capricorn Investment Group boasts a $5 billion multi-asset class portfolio that focuses on sustainable investments that demonstrate the potential investment opportunities of breakthrough commercial solutions to the world's most pressing problems. Its portfolio includes investments in renewable energy, renewable resources, clean technology, health and wellness, and energy efficiency.
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SOURCE Shorewood Real Estate Group