$1.768B · 30–80% AMI
Higher-risk development, distressed acquisitions, and high-return affordable housing situations.
Gr3ySpace Opportunistic I Fund invests in higher-risk development, distressed acquisitions, and high-return affordable housing situations. The fund targets ground-up development, deep repositioning, workout situations, and complex recapitalizations where execution complexity and dislocation create the potential for outsized returns.
What this fund does.
- Ground-up affordable housing development
- Distressed acquisitions and workouts
- Deep repositioning and heavy rehab
- Complex recapitalizations
- Dislocation-driven opportunities
Key economic terms.
- Net IRR Target
- 10–13% net IRR
- Vehicle
- Delaware Limited Partnership
- Fund Term
- 15 years (two 1-year extensions at GP discretion)
- Investment Period
- 5–7 years
- Carried Interest
- 15% above 7% preferred return (100% GP catch-up)
- Preferred Return
- 7%, compounded annually
- Distribution Waterfall
- European (whole-fund) waterfall
- GP Commitment
- 2% of total fund commitments
- Minimum LP Commitment
- $1,000,000
- Auditor
- PwC
- Legal Counsel
- LePore Law Group
Full fund terms are set forth in the Limited Partnership Agreement, Private Placement Memorandum, and Subscription Documents for the applicable fund vehicle. Fund interests are offered only to accredited investors and qualified purchasers.
Institutional cadence, matched to fund complexity.
Request the Opportunistic I Fund data room.
Qualified LPs may request the Opportunistic I Fund private placement memorandum, subscription documents, DDQ, Form ADV Parts 1 and 2A, audited fund financials, and ILPA Reporting Template samples through the Gr3ySpace Investor Relations team.