Community Reinvestment Partners II, LP
Forge's real estate private equity investment strategies focus on often unmet, niche opportunities in the distressed debt and socially responsible investment arena, particularly as they relate to Community Reinvestment Act (CRA) investment test credits. Investment activities include direct real estate investment, real estate development and redevelopment, and real estate collateralized-debt acquisitions. In order to best implement a fund's investment strategy, Forge often partners with nationally recognized real estate companies.
Community Reinvestment Partners II, LP (CRP II) was raised in 2007 and 2008 to develop, redevelop and invest in existing grocery-anchored shopping centers and mixed-use projects primarily in moderate and low-income census tracts within the states of Florida, Georgia, Alabama, South Carolina and North Carolina. CRP II concluded its investment period in the second quarter of 2012 having acquired over $200 million of qualified property. CRP II is currently in the process of harvesting its investments and is projected to be concluded in 2016. In addition to Forge's principals, the investors in CRP II are commercial banks, which receive Community Reinvestment Act credits for their investments, as well as other institutions with a socially responsible investment objective. CRP II was co-sponsored with the DeBartolo Development Company of Tampa, Florida.
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