$1.40B · 30–60% AMI
LIHTC-financed senior affordable housing communities serving elderly households at 30–60% AMI with accessible design and supportive services.
Gr3ySpace Fund IV develops and acquires LIHTC-financed senior affordable housing communities serving elderly households earning 30 to 60 percent AMI with accessible unit designs, supportive services programs, and amenities tailored to aging-in-place residents and active senior populations. The fund targets markets with significant elderly affordable housing undersupply and aging demographic populations driving sustained long-term demand for restricted-income senior rental housing.
What this fund does.
- LIHTC senior affordable housing new construction
- Section 202 Supportive Housing for the Elderly
- Aging-in-place accessibility retrofits
- On-site services coordination and healthcare partnerships
- Age-restricted community programming
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 Fund IV data room.
Qualified LPs may request the Fund IV 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.