Urban Private Equity Funds comprise a $725 million portfolio targeting investments in urban residential and commercial properties.

Phoenix Realty Group's Urban Private Equity Funds invest in housing built on reasonably priced land close to job centers and public transit. These urban infill locations are attractive to first-time buyers priced out of suburban markets.

Benefits to Investors

• Opportunistic rates of return
• Socially responsible investment vehicle
• Access to middle-market urban development opportunities
• The demand for new home production exists in all economic cycles
• Access to a capital constrained market
• High yields vs. core or value real estate sectors

Benefits to Developers

• Value-added capital with development expertise
• Responsive and knowledgeable capital provider
• Catalytic capital for land acquisition and predevelopment financing

Benefits to Middle-Income Workforce

• Housing affordable to middle-income families
• Housing close to job centers and public transit
• Homeownership opportunities

Phoenix Realty Group’s Urban Private Equity Funds cover the following regions:

Western Region

Genesis Workforce Housing Fund
A $103 million fund investing in the development of workforce housing and mixed-use projects throughout  the greater Los Angeles region. This fund closed in March 2004 and is projected to produce approximately $500 million of real estate development and approximately 2,000 new housing units.

San Diego Smart Growth Fund
A $90 million fund investing in the development of workforce housing, mixed-use and commercial properties in the greater San Diego area. This fund closed in April 2005 and is projected to produce approximately $590 million of real estate development and approximately 1,300 new housing units.

California Urban Housing Fund

A $50 million fund investing in the development of workforce housing, mixed-use and commercial properties in urban and infill areas throughout California. The California Fund is targeted to close by year-end 2006 and is projected to produce approximately $250 million of real estate and approximately 900 new housing units.

Eastern Region

Metropolitan Workforce Housing Fund
A $200 million fund investing in residential, mixed use, and commercial development targeting middle-income households in urban and infill areas throughout the New York, New Jersey and Connecticut metropolitan area. The Metropolitan Fund anticipates closing in 2006 and is projected to produce $1 billion of real estate and approximately 3,300 new housing units.