Value-Add and Core Plus fund targeting workforce, regulated and luxury housing

Global One Investments, LLC, the acquisitions arm of Nelson Management Group, LTD has launched the firms’ second fund targeting $450 million in multifamily investments in New York City.

The fund will target existing multifamily and mixed-use assets in New York City of 50-5,000 units, for both Value-Add and Core Plus investments. Global One’s principals, Robert Nelson and Michael Gerstein have owned and operated over 3,000 units worth $660 million in market rate, rent stabilized and regulated housing.

“Our expertise is in owning and operating a variety of multifamily assets, from luxury properties to middle income to Section 8 housing,” said Robert Nelson, President of Nelson Management Group and Principal of Global One. “Our knowledge of the New York City metropolitan area has given us both an understanding of overall market dynamics, as well as local, state and federal affordable housing programs. This in turn has allowed us to target assets primed for market repositioning. Over the years we’ve performed over $60 million in capital improvements in our portfolio, which has obviously been beneficial to the residents of the buildings we own.”

“In the past we have had a tremendous amount of success in navigating complicated regulatory structures in a way that improved the quality of life for residents and preserved affordable housing, through public/private partnerships,” said Michael Gerstein, Principal of Global One Investments, LLC.

The first Global One Real Estate Fund, launched in 2008, purchased over 1,300 units of housing with a current market value of $200 million. Other Global One ventures acquired over 1,700 units of housing with a current market value of $460 million. Properties in the portfolio currently include 275 South Street in Lower Manhattan, Promenade Apartments in Upper Manhattan, Atlantic Plaza Towers in Brooklyn’s Ocean Hill neighborhood and Hazel Towers and the Lafayette Boynton apartments in the Pelham Bay and Soundview sections of the Bronx.

ABOUT GLOBAL ONE INVESTMENTS, LLC

Global One Investments, LLC specializes in purchasing core-plus and value-add investments in New York City with a focus on mixed-income and affordable preservation transactions. Since its inception in 1996 Global One has acquired over 3,000 units in 17 properties valued at over $660 million. Global One draws upon a diverse team of real estate professionals, led by principals Michael Gerstein and Robert Nelson who have over 50 years of combined real estate experience and have owned or managed over 7,500 units of multifamily housing.

ABOUT NELSON MANAGEMENT GROUP, LTD.

Nelson Management Group, Ltd. is a full-service real estate management firm, specializing in the management of multi-family properties within the five boroughs of New York City. The principals of Nelson Management Group, along with its affiliates, have owned and/or managed more than 7,500 units of rental housing over the last 28 years. The firm is particularly adept in the ownership and management of rent stabilized, Section 8, Article XI, and Mitchell-Lama properties. The company's robust portfolio of mixed-income housing currently includes the 972-unit Lafayette Boynton and 318-unit Promenade apartment complexes in the Manhattan, in addition to other notable properties in Manhattan and Brooklyn.