The Penn Rose Building

An Adaptive Reuse Apartment Building
Pittsburgh, PA

$2.7MM Joint Venture Equity

Challenge
A developer approached Washington Square seeking joint venture equity to redevelop a historic office building into an apartment building with ground floor retail. Because of the small size of the investment, institutional capital was not an option for the deal.

Solution
Washington Square arranged joint venture equity from an international fund that specializes in investments below $10MM.