Groma Growth Fund IV: Providence

Location: Boston, Massachusetts

The Fund is a private real estate investment vehicle focused on acquiring undermanaged small multifamily properties with strong value-add potential in the Greater Providence area. The Fund will target assets available at competitive entry prices and seek to improve their performance through strategic renovations, rental rate optimization, and operational effi ciency. By leveraging Groma’s proprietary technology platform, we aim to reduce marginal costs as the portfolio scales - driving higher net operating income (NOI) and long-term asset value appreciation. Greater Providence offers a uniquely compelling investment landscape. Among major U.S. metro areas, it has the highest concentration of small multifamily properties, with 74% of its multifamily housing stock consisting of 2–9 unit buildings. This distinctive density is reinforced by the region’s strong institutional backbone, including renowned academic institutions (Brown University, Rhode Island School of Design, Johnson & Wales University), leading medical centers (Rhode Island Hospital, The Miriam Hospital, Hasbro Children’s Hospital), and major fi nancial fi rms (Citizens Bank, Bank Rhode Island, Washington Trust Company). Together, these anchors support stable, long-term housing demand and position the market to perform well across both infl ationary and recessionary environments. At the end of the Fund’s hold period, the plan is either to sell the portfolio at an advantaged portfolio premium to an institutional real estate equity investor, selling the assets individually, or pending investor feedback contribute the assets into a continuation fund with a cash-out option at fair market value for investors wishing to liquidate. The Fund is targeting raising $40M which, with leverage, would enable us to acquire roughly 50-75 properties and roughly 150-225 units over a 1-2 year period.