Fairstead announced a new equity commitment of $500 million to strategically grow the company’s operations. This company said this new capital will expand its multifamily housing portfolio and enhance the firm’s prop tech, sustainability and community impact programming for its affordable, workforce and market-rate housing residents across the country.
“The lack of quality housing is one of the most important issues facing our nation today,” said Fairstead CEO Jeff Goldberg. “Those of us at the forefront of this crisis recognize that expanding capacity is only part of the solution. We must commit the financial resources to create sustainable housing, invest in prop tech solutions to future proof our industry, and collaborate with our community and government leaders to develop impactful programming that will strengthen our neighborhoods and revitalize our cities.”
In addition to the $500 million equity investment, the firm said it recently hired investment banking industry veteran Tricia Yarger to head up its capital markets team, after more than a decade as a director at Citi. Yarger will join Fairstead in November, where she will manage all of the firm’s debt and equity relationships while helping outside capital partners direct their investments into Fairstead properties.