Built for institutional capital.
Gr3ySpace serves pension plans, insurance companies, endowments, foundations, family offices, DAFs, sovereign allocators, and qualified individuals seeking durable, mission-aligned returns from affordable housing.
An asset class engineered for capital preservation.
Federal rent contracts, tax credit equity, and long-dated bond financing convert housing demand into stable, contractual cash flow. Gr3ySpace assembles these instruments into a twenty-seven-fund platform across two vintages — twelve 2026-vintage funds spanning the full spectrum of federal affordable housing, and fifteen 2028-vintage funds extending across the institutional risk-return spectrum — so LPs can size exposure by risk band, geography, strategy, and duration.
Every deal is underwritten to a downside case and stress-tested against vacancy, interest rate, and construction cost shocks before it reaches the investment committee.
Aligned structure. Clear economics.
| Preferred return | 7% cumulative, compounded annually |
|---|---|
| Carried interest | 15% to GP after 100% catch-up |
| Distribution waterfall | European — fund-level, deal-by-deal after full return of capital |
| Fund term | 15 years with two one-year extensions at GP discretion |
| Investment period | Five years from final close |
| GP commitment | 2% of total commitments per fund |
| Minimum commitment | $1,000,000 (institutional); qualified purchasers only |
| Reporting cadence | Quarterly financial statements, annual audited financials |
| Auditor | PricewaterhouseCoopers LLP |
| Fund counsel | LePore Law Group |
Complete terms are set forth in each fund's Private Placement Memorandum, Limited Partnership Agreement, and Subscription Documents. This page is a summary only.
Four-step onboarding.
- Introductory call. A 45-minute conversation with the investor relations team to review platform strategy, fund selection, and fit.
- Data room access. Executed NDA unlocks the LP data room — PPMs, LPAs, model outputs, track record, sample quarterly reports, and diligence questionnaires.
- Due diligence. On-site meetings with the investment committee, reference calls with existing LPs, and portfolio walk-throughs where relevant.
- Subscription and funding. Countersigned documents, capital call schedule, and LP Portal credentials issued within ten business days of admission.