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Pembrook Continues School Contribution Program with Donation to Community Elementary School in Chicago's Southwest Side


Pembrook Continues School Contribution Program with Donation to Community Elementary School in Chicago's Southwest Side

PR Newswire

NEW YORK, Aug. 6, 2018 /PRNewswire/ -- Pembrook Capital Management LLC ("Pembrook") today announced a donation to the Louis Pasteur Elementary School, a community elementary school dedicated to maximizing the potential of children in low-income communities in the Southwest side of Chicago.  The announcement was made by Pembrook's founder and chief executive, Stuart J. Boesky.

Pembrook is an investment manager focused on providing loans and other financing for the development, rehabilitation, and preservation of affordable housing, as well as office, retail, and industrial properties, in underserved areas on a national basis.  Pembrook's donation to the Louis Pasteur Elementary School is part of the company's ongoing program to provide financial support to public schools in neighborhoods where it does business.  The program is targeted to total up to 3% of the firm's annual profits.  Pembrook has already provided financial support to schools in several major cities across the United States, matching each lending transaction with a local school donation.

The donation to Louis Pasteur Elementary School is matched to Pembrook's recently closed $20.3 million first mortgage loan for Icarus Investment Group's acquisition and renovation of a 23-building portfolio located in Chicago's Southwest side.  The portfolio, formerly owned by Cano Properties, consists of 23 Naturally Occurring Affordable Rental Housing (NOAH) properties with 325 residential units.  Icarus Investment Group, an experienced multifamily sponsor, plans to add value through continued improvements to the residential units and lease-up of commercial vacancies within the buildings.

The contribution to Louis Pasteur Elementary School will go to a research-based, results-driven development program for their teachers called Time to Teach.  The program will help improve student scores as well as reduce disciplinary challenges and bullying.  Time to Teach will provide teachers with the tools needed to enhance student success by enabling them to meet the diverse needs of their students, as well as reach and motivate them to maximize their achievement.

"We are thrilled to support the Louis Pasteur Elementary School's investment in the Time to Teach program," said Boesky. "Pembrook is honored to give back to the communities we work in and especially proud to support local education.  We are determined in continuing to support schools in the communities we invest in, as we believe education is the foundation for long-term success."

The Louis Pasteur Community Elementary School is located on the Southwest side of Chicago and serves approximately 800 students in the pre-K through 4th grades.  98% of students are Latino and 96% come from low-income households.  43% are English Language learners.  The school promotes a safe, orderly, caring, and supportive environment, and strives to have parents, teachers, and community members actively involved in the students' learning.

Pembrook is a real estate investment manager that provides financing throughout the capital structure.  The firm has originated or participated in investments totaling over $1 billion since it began investing in 2007.          

About Pembrook Capital Management, LLC
Founded in 2006 by Stuart J. Boesky, Pembrook Capital Management invests in and originates commercial real estate debt to finance all parts of a capital structure including first mortgages, mezzanine, bridge loans, note financings, and preferred equity across the United States. The firm invests in most commercial real estate property categories, including multifamily, office, retail and industrial.

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