ParkSlope Capital, a bold, new realestate investment firm based in Manhattan, recently launched ParkSlope Land Development Lending Fund I, LP, a venture that distinguishes itself from traditional real estate or equities markets. Designed to issue first-priority, senior secured loans, it addresses the scarcity of available financing for mid-tolarge-scale residential land development projects consisting of marketable, single-family lots. With nearly 100 years of combined real estate experience, principals Gregory Yakubov, Brian Cotner and William G. Allen are using their industry knowledge to identify opportunities and capitalize on this market inefficiency.
The fund seeks to provide exclusive, direct debt financing to create master-planned residential developments in upscale submarkets of major growth areas in the Southeast and Texas. The goal is to take advantage of the void left by the 2008 financial crisis in available funding for land acquisition and development, as banks and traditional lenders withdrew from this market.
“More than a decade after the financial crisis, we still see a major need for acquisition and development capital,” said Mr. Allen. “This is not for lack of demand. We believe that as real estate professionals who know the business inside and out, we can find unique opportunities for growth.”
ParkSlope Capital’s founding principals are seasoned real estate professionals with experience in private equity, specialty finance, real estate development, marketing and alternative investment. With their record of success, the ParkSlope Capital team believes it can fill the financing void now as a lender. They are experienced in sourcing opportunities, analyzing risk and structuring alternative niche strategies to optimize risk-adjusted returns for investors. Their underwriting and selection processes are tailored to fit the individual strategy of each fund.
Gregory Yakubov, Founding Principal and Managing Partner, has 20 years of experience in U.S. realestate, with particular experience in identifying non-traditional investment opportunities where returns can be maximized. Since 2011, he has been the managing director of a private equity realestate fund that invests exclusively in realestate tax liens. In that role, he raised equity capital from institutional investors. In addition, he designed and oversaw the development of a system that enabled the analysis of more than $10 billion dollars in realestate tax liens, resulting in the acquisition and management of liens representing more than $2 billion in realestate values.
Brian Cotner, Founding Principal and Executive Vice President, worked for 24 years in Southeast realestate markets with Sunbelt Land Management, LLC, overseeing sales, marketing and construction. His long history with unique acquisitions and funding opportunities gave him an exceptional understanding of the business of realestate across the project life cycle. Cape Fear Companies Inc., which he formed in 1995, is responsible for the sale of approximately 4,000 single-family lots through some of the largest land-sale marketing campaigns on the East Coast.
William G. Allen, Founding Principal, is currently the Managing Director of Sunbelt Land Management, LLC and has successfully managed realestate development projects since 1971, leading to the creation of 150 communities of single-family residences and the transformation of tens of thousands of acres of undeveloped land into homes. Additionally, he formed Waterfront Properties, Inc. and Waterfront Communities, Inc. to support the development of prime waterfront property throughout the Southeast with industry-leading infrastructure and amenities. Mr. Allen has a strong track record in identifying non-traditional real estate opportunities and has been successfully investing in distressed assets and finding growth markets since 2007.
The fund is responding to inquiries from accredited individuals and family offices considering investment.Visit www.ParkSlopeCap.com or call 1-212-600-5550 for more information.
About ParkSlope Capital
ParkSlope Capital is an investment fund manager founded in 2018 and based in New York City, specializing in alternative investments and currently offering participations in a fund which intends to lend to land-development projects in the Southeast and Texas for the creation of communities for single-family residences, by developing infrastructure, amenities, and lots suitable for building homes. Future real-estate funds are likely to target investments in land development for student housing and senior housing as well as investments in real-estate tax liens. Positioned for high-net-worth individuals and family offices interested in generating a risk-adjusted return, ParkSlope Capital products are designed for a balanced portfolio strategy, with little-to-no correlation to traditional real estate or equitymarkets. www.ParkSlopeCap.com.
