2014-06 Greenhall Capital Partners, LP acquires Multi-Family property in Providence, Rhode Island
Washington, DC – Growth capital firm Greenhall Capital Partners, LP today announced it has agreed to acquire a cash-flow positive multi-unit apartment building in Providence, Rhode Island. Equity capital for the transaction, terms of which were not disclosed, will come from Greenhall Capital Real Estate (GCRE), Greenhall’s U.S. Real Estate platform. The acquisition increases the size of Greenhall’s commercial portfolio.
Otis Ofori, Greenhall Capital Principal, said, “The multi-family acquisition in Rhode Island is an attractive investment because of its stable cash flow generation. The Northeast region is seeing a resurgence in the rental market and we believe this asset and many more we plan to acquire are well-positioned to capitalize on favorable market dynamics.”
Added Mr. Ofori, “Since Greenhall funds acquired assets in Washington, DC in mid- 2013, our real estate team has continued to look for more attractive investments and we are excited to work with capable operators in the Mid-Atlantic and Northeast regions as we cautiously expand our investment footprint.”
* * * * * About Greenhall Capital Partners, LP Greenhall Capital Partners is a private investment fund focused on real estate, special situation credit investing and taking equity positions through managed buyouts, growth capital investments and leveraged recapitalizations in lower middle market companies. We invest in opportunities and companies for sale with revenues below $50 million, EBITDA from $1 million to $15 million and operating margins in excess of 15%. Greenhall specifically targets companies in Professional Services, Consumer, Industrial, Education, Healthcare and Information Technology. The firm is headquartered in Washington, DC and maintains an office in New York.