Greenville real estate investment and development firm LyonJay is partnering with New York’s real estate lender Dwight Capital to launch residential venture Hudson Oak Development, according to a news release.
“It is imperative to have a business model that can maintain profit centers throughout varying market conditions. Our disciplined approach coupled with access to flexible capital, maximizes our opportunities in unique market conditions,” J.K. Jay, co-founder and president of LyonJay and Hudson Oak Development partner, said in the release.
The company will specialize in multifamily and for-rent single family acquisitions and developments including affordable housing projects, according the release. A Hudson Oak rental housing fund will set aside capital for rental, distressed, multi-family and value-add construction and renovation projects across the Southeast and Mid-Atlantic regions.
“We see an unprecedented opportunity to be on the leading edge of a shift in the rental market by capitalizing on the changes in behavioral economics that have accelerated due to recent shock,” Jennings Lyon, co-founder and CEO of LyonJay, said in the release. “Hudson Oak possesses the expertise necessary to create value and provide superior returns to our investors through our disciplined and focused approach to investments in each market cycle.”