Word: utendahl
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Dates: during 2000-2000
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That direction led to UrbanAmerica, the first real estate investment company to focus on distressed urban areas, a market sinfully ignored by most moneymen. Founded by McCoy in 1998, with backing by New York's Utendahl Capital Partners, the new company persuaded major banks like J.P. Morgan and Citibank to sign on as limited partners. "Demonstrating to them that they could invest institutional money in ethnic markets, receive a nice return and do some good along the way--that was a challenge," says McCoy. It helped that he was offering not only a profitable opportunity but also...
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