Affordable Housing Finance covers David Grunwald announcement in their “People on the Move” section.

Affordable Housing Finance’s “People on the Move”
David Grunwald promoted to managing director of SDS Capital Group’s $150 million Supportive Housing Fund (SHF)
By Donna Kimura, Affordable Housing Finance
Article Posted on May 10th, 2022

SDS Capital Group Announces Promotion

David Grunwald has been promoted to managing director of SDS Capital Group’s $150 million Supportive Housing Fund (SHF). He will leverage his underwriting and asset management skills, overseeing both project- and fund-level activities for the fund.

SHF provides land acquisition and construction financing for projects to house people experiencing homelessness in California. It is a first-of-its-kind impact fund that is a new model for alleviating homelessness through the use of private capital.

SHF is usually the sole source of capital for permanent supportive housing projects developed by RMG Housing, a Los Angeles-based developer of permanent supportive housing for those with mental and physical disabilities, providing as much as 97% of the total acquisition and construction capital. The fund’s one-stop model significantly reduces underwriting and closing time for typical PSH projects.

Grunwald will be responsible for all day-to-day management and operations of the fund and will collaborate with the SDS team to finance as many as 30 permanent supportive housing development projects over the next six years.

He joined SDS Capital Group in November 2021 as senior vice president. Prior to joining SDS, Grunwald was senior vice president, Los Angeles region, for National Community Renaissance. Previous experience includes serving as president and CEO of Affordable Living for the Aging, American Sunrise Communities, and L.A. Family Housing.