GlobeNewswire

Photo courtesy of Blacklist Capital

NEW YORK, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Blacklist Capital, a New York-based real estate private equity firm, announces two significant achievements: its expansion into the Middle East and the closure of its third fund, which will complete an affordable housing project in New York City.

Fahad Rajput, founder of Blacklist Capital, acknowledges the financial challenges families face in owning a home in expensive markets like New York City. High property prices, growing rents, and ongoing costs make necessities such as housing difficult, even for hardworking New Yorkers.

Understanding this challenge, Rajput used Blacklist Capital's third fund to develop multifamily rental properties and address the critical need for affordable housing in New York City, one of the world’s most expensive real estate markets.

According to Rajput, the fund's strategy involves creating buildings where a certain percentage of units are designated as affordable housing, offered at below-market rates to make them accessible to lower-income individuals and families.

However, despite allocating a portion of units for affordable housing, Rajput emphasizes how the fund still aims to provide strong returns to its investors. This is achieved through careful financial structuring, effective utilizations of government incentives, and leveraging the company's extensive experience in similar successful projects.

Blacklist Capital’s strategy of working on multifamily rentals with an affordable component allows the company to contribute to community development while maintaining its promise of high investor ROI.

They capitalize on the stable occupancy rates and consistent cash flow typically associated with affordable housing investments.

"We're proud to play a role in addressing New York City's housing challenges," Fahad Rajput mentions. "This project aligns with our mission to build communities through sustainable investment and provides much-needed housing options in a market known for its high cost of living.”

At the same time, Blacklist Capital has acquired its first asset in the UAE, marking its entry into the growing real estate sector in the Middle East. This comes at a time when the region is experiencing significant growth in real estate development.

The firm's ability to identify and develop scalable operations in real estate niches from market inefficiencies or changing trends will be instrumental in addressing the region's unique market demands.

Fahad Rajput believes that the expansion opens opportunities for strategic relationships with key players in the Middle East’s various sectors. This will help the company establish a solid presence to support its long-term regional growth and success.

Blacklist Capital is also planning a Saudi Arabian expansion in the near future, in alignment with His Royal Highness Mohammed Bin Salman's Vision 2030 initiative. As a firm built on breaking barriers and pushing the notion of what is possible, Blacklist Capital is prepared to take on the challenges of this ambitious goal.

“Our expansion into the Middle East marks a significant step in the company's growth. This move allows us to grow in the new markets and diversify our investment offerings. It’s replicating what we have succeeded in New York, and adding value by addressing the market challenges of other regions,” Rajput adds.

With over $100 million in real estate experience, Blacklist Capital has established itself as a significant player in the New York real estate market. The firm uses its proven track record in competitive real estate investment to position itself well for capitalizing on more burgeoning opportunities in the industry.

Fahad Rajput shares, "Our success stems from our commitment to creating investment opportunities historically available only to the elite. We're democratizing access to highly sought-after real estate projects by allowing everyday investors to partner with us."

About Blacklist Capital

Blacklist Capital is a New York-based real estate private equity firm specializing in multifamily acquisitions and development. Founded and led by Fahad Rajput, the company focuses on acquiring land development sites in changing markets and value-added residential projects in submarkets. It operates on an integrated method encompassing debt/equity funding, development, and construction experience, allowing for control over every aspect of the project.

Blacklist Capital is now expanding its operations, emphasizing long-term involvement in developing areas and taking an active role in community growth and development.

Contact Details:

Contact Person's Name: Fahad Rajput
Position: Founder and CEO
Company Name: Blacklist Capital
Company website: blacklistcapital.com
Contact Email Address: fr@blacklistcapital.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80ba33df-4d8d-4118-8f4d-ec1cd9b5c4f8