CYwP Fund II Invests in Drexel University Student Housing

Current Yield with Participation Funds (CYwP Funds) announced today that Current Yield with Participation Fund II (CYwP Fund II) has invested in Elrae Gardens I and II, which will serve the Drexel University student population in Philadelphia, PA.

Elrae Gardens I and II are located in University City, home to Drexel University, University of Pennsylvania and University of the Sciences, which together enroll more than 50,000 undergraduate and graduate students.

Elrae I is four blocks from Drexel’s campus. Elrae II is one block from Penn Presbyterian Medical Center. Intermodal transit is in close proximity to the properties via Drexel Shuttle, Lancaster Ave Trolley, 30th Street Station (which is less than one mile away) and access to I-76 off of Spring Garden Street.

All 29 units at Elrae I and three units in an isolated parcel at Elrae II will be renovated. Elrae II will be demolished and 43 new units with 163 beds will be constructed.