About Us

Bringing a unique perspective and decades of expertise to Real Estate Investing.

Informed by extensive experience, preparation, research, and the ability to quickly adapt to changing market conditions, Prospect Ridge is committed to fulfilling our fiduciary duty to make every investment decision with our clients’ best interests in mind. Our highly experienced team of investment professionals is led by Brahm Cramer and Jay Nydick. We are constantly evolving in an effort to remain well positioned to provide institutional solutions and strong performance to our investors and partners.

Our Name

Prospect Ridge is a remote hiking trail in Colorado that is located at a lofty starting elevation of 13,000 feet above sea level. While the path is notoriously difficult to traverse, an astute climber will know how to navigate its terrain, accounting for factors including weather, wind and temperature, among others. Each trip is different, but successfully scaling the mountain is always worthwhile and satisfying, and it’s achievable with planning, focus and nimbleness.

We named our firm after this hiking trail because we see so many interesting parallels between hiking Prospect Ridge and successful real estate investing. Much like the requirements for a successful summit of Prospect Ridge, our investment decisions are made by leveraging our deep experiences to plan, cradle-to-grave asset management structure to ensure focus, and opportunistic mindset to remain nimble through changing market conditions.

Our Name Embodies Our Approach to Investing

ESG

Prospect Ridge’s Commitment to Sustainability

Prospect Ridge is committed to the consideration of environmental, social, and governance (ESG) factors in connection with our business operations and investment activities. We believe consideration of ESG issues is an important component of identifying relevant investment risks and opportunities. 

Prospect Ridge made its first GRESB submission in 2024 for PR U.S. Real Estate Partners III (“Fund III”), one of its opportunistic funds, which will bring enhanced visibility to the sustainable advantages of our ESG strategy.

ENVIRONMENTAL


Prospect Ridge is committed to the consideration of certain ESG factors in our investment decisions and ownership. The firm considers the ESG risks and opportunities of a potential investment during the initial underwriting and through active monitoring of the asset post-acquisition, which includes tracking of utility data and ESG assessments and projects conducted at assets where feasible. The firm is also aware of its corporate footprint and has committed to managing its waste and consumption internally. 

To support these environmental objectives, Prospect Ridge established the following goals:

  • Adopt an EMS plan in 2024 to help manage the firm’s ESG procedures and processes
  • For Investment properties, track energy, water, and waste consumption in 75% of equity funds by 2028
  • Upgrade 75% of landlord controlled common area lighting to energy efficient LED by 2028
  • Firm to purchase 75% of supplies that meet sustainability criteria including certification designated by UL ECOLOGO, Green Seal and EPA’s Safer Choice Standard


Key Portfolio & Fund Metrics (As of December 31, 2024) 

  • EMS Plan Developed
  • 49% of assets have been set up for benchmarking (77% of Fund III assets) *
  • 100% of supplies purchased by Prospect Ridge in 2024 met sustainability criteria 
  • 61% of equity investments use energy efficient LED in over 75% of their landlord controlled common area lighting (47% for Fund III) **


* Data collected varies across assets. Access to data can depend on state and local laws and type of asset. Prospect Ridge continues to establish data streams for energy, water, and waste across portfolios.
** Based on available metrics as of 12/31/2024.

SOCIAL

Our social policies are aimed at creating a fair and safe work environment for our employees and helping the communities in which we invest. The well-being of our employees and our residents/tenants is critical to our success. We promote volunteerism and community service amongst Prospect Ridge colleagues. Furthermore, employees are the cornerstone of our success and corporate strategy. We are proactive and responsive to our employees regarding our benefits package, seeking feedback from employees for ways we can further meet their financial, educational, health and well-being needs. Prospect Ridge has Diversity and Inclusion Policies as well as Tenant/Resident Wellbeing and Engagement Policies.

To support these social objectives, Prospect Ridge has established the following goals: 

  • Conduct annual diversity and/or anti-bias training to educate employees on diversity issues and unconscious bias in the workplace with 100% employees participation
  • Host an annual community or volunteer day for employees with 100% employee participation
  • Conduct an annual employee engagement and health and wellness survey with 90% employee participation


Key Portfolio & Fund Metrics (As of December 31, 2024) 

  • 100% of employees completed annual diversity and/or anti-bias training*** 
  • 90% of employees participated in annual community day 
  • 72% of employees completed the annual employee engagement survey


*** Does not include employees who joined the firm in December 2024.

GOVERNANCE

Prospect Ridge operates with discipline and integrity. Through our governance policies, we seek to ensure that our leadership and business model reflect our commitment to ethical governance.

Prospect Ridge’s ESG Committee oversees the firm’s ESG program, including establishing the firm’s ESG strategy. The Committee is made up of senior members of the firm including one of the firm’s Co-CIOs, the President, the General Counsel and senior members of the investment and asset management teams.

To support these governance objectives, Prospect Ridge has established the following goals:

  • Conduct ESG training annually
  • Conduct the Code of Ethics and Compliance Training with 100% employee participation annually
  • Conduct anti-harassment training with 100% employee participation annually
  • Conduct phishing and cybersecurity training with 100% employee participation annually

Key Portfolio & Fund Metrics (As of December 31, 2024)

  • ESG Training Conducted Annually
  • 100% of employees attended annual Code of Ethics and Compliance Training   
  • 100% of employees completed anti-harassment training
  • 100% of employees completed phishing and cybersecurity**** 

****Does not include employees who joined the firm after November 1, 2024.

Recent ESG Actions / Accomplishments – December 2022

Strategy

  • Engaged an external ESG strategy consultant to review in-place ESG policies and process, perform a gap analysis and provide a roadmap for enhancement and improvement

Oversight

  • Formed an internal committee and sub-committee to strengthen our internal governance and provide more structure around the firm’s commitment to ESG

Policies & Process

  • Updated ESG policy which now addresses additional ESG topics including a responsible contractor policy and investment prohibitions (pending review/approval)
  • Formalizing general ESG process/procedures and in the process of developing an Environmental Management System framework that will guide our approach, process and overall program for environmental issues.
  • Enhanced ESG due diligence checklists; bifurcated internal and external responsibilities and created an additional checklist to review environmental and social commitments and priorities of the partners and/or sponsors
  • Incorporate ESG due diligence key findings/observations into future IC Memos
  • Identified third-party ESG environmental consultants/engineers that can recommend specific energy and water conservation measures at the onset as part of our due diligence, as well as perform an environmental data review/assessment for the existing portfolio

Data Collection & Stakeholder Engagement

  • Capturing real-time environmental and social initiative data for multifamily properties through implementation of ESG questionnaires as part of our standard monthly reporting
  • Rolled-out an annual ESG survey to our partners aimed at capturing ESG initiatives being carried out at the property, new initiatives our partners are considering and raising any potential risks associated with building systems in need of repair or nearing end of life
  • Partnered with the ESG software company Measurabl to gather, analyze, and track our environmental key performance indicators like utility consumption and emissions across our portfolio. Will better position the firm to commit and report to various ESG frameworks in the future, if we desire to do so

Corporate Initiatives

  • Completed community day events for the New York and San Francisco offices; Volunteered time, effort and funds to support a local community garden and to help prepare meals and groceries for the needy
  • Formalized Prospect Ridge’s Quarterly Women’s Lunch and Mentorship program to support internal Diversity, Equity and Inclusion (DEI) and human capital improvement initiatives

Near Term Areas of Focus – Early 2023

Data Collection

  • Fully onboard Measurable and improve data collection efforts
    • Closely monitor developing local energy benchmarking/reporting requirements across our portfolio through Measurabl and other external sources
    • Track affordability / income metrics for our multifamily properties on a quarterly basis

Expectations and Requirements

  • Monitor, assess and plan for any developments on applicable regulatory ESG disclosure both domestically and internationally ahead of fundraising initiatives, including SEC requirements and SFDR (Europe)
  • Consider providing a completed ESG DDQ to AXA and set-up discussion to discuss our in-place program and plans for improvement
  • Keep close watch on anti-ESG sentiment and potential impact to both investors and other investment managers (e.g. Blackrock loss of $2B mandate from Florida / Vanguard decision to withdraw from previous net zero commitments)
  • Monitor political developments and how this could impact ESG policy

Process

  • Improve procedure to identify, assess and mitigate climate-related risks (physical and transition) across the business, guided by the Task Force for Climate Related Financial Disclosures (TCFD) recommendations

Property/Partner Level Initiatives

  • Green Leasing– Explore feasibility of certain green leasing initiatives and certifications through additional lease clauses or guidelines
  • Social/Community Impact– As identified through the annual survey process, explore community impact initiatives and feasibility across the portfolio
  • Partner/Property manager ESG focus– Continue to stay close, learn from and engage with partners that have demonstrated their own commitment to ESG at their firm and other properties they manage

Corporate Initiatives

  • ESG Reporting – Consider annual reporting and/or website messaging to communicate Prospect Ridge’s initiatives with employees, investors and other stakeholders
  • Diversity – Consider expanding responsible contractor policy, beyond the incorporation of labor rights standards, to include implementation of supplier diversity initiatives
  • Future volunteer projects – Add structure to project selection. Identify what is most meaningful to the firm; consider specific projects to help offset any negative impacts associated with commercial real estate investing