As Manager of SP Investment Fund LLC in Los Angeles, Gil Seton focuses on overseeing investments in affordable housing and emerging technologies. Before starting his career as a real estate executive, Gil Seton studied real estate and finance at the Wharton School of Business at the University of Pennsylvania, where he was chosen to receive the Samuel Furman Memorial Fellowship for excellence.The Wharton School of Business is a world-renowned business school with an excellent Real Estate Center which now features an International Housing Finance Program (IHFP). In existence for more than 30 years, IHFP focuses on delivering the best education available in international housing finance. The executive education programs offered by IHFP have been delivered in 40 countries and have produced around 4,000 alumni who hold senior housing finance executive positions across the globe. IHFP leaders also pursue research on emerging real estate market economies. Faculty also advise government as well as the private sector and nonprofits throughout Asia, Africa, and Latin America on housing finance topics.
SP Investment Fund LLC's manager, Gil Seton Jr., oversees the firm’s investments in affordable housing. Gil Seton Jr. has supervised SP and its affiliates' investments in over 100 properties involving over 10,000 units of affordable housing all over the United States. SP Investment Fund LLC has recently taken on the project of renovating two affordable housing communities for seniors and disabled individuals that are located in Saratoga Springs and Ilion, both of which are in New York. The affordable housing communities are named the Raymond Watkin Apartments and the John Guy Prindle Apartments. The Raymond Watkin Apartments and the John Guy Prindle Apartments were each constructed in 1979 as sister projects and cover an area of 2.31 acres, and 2.44 acres, respectively. Each of the properties is housed in single building containing 111 one-bedroom, one-bathroom apartments along with one two-bedroom, one-bathroom unit. SP Investment Fund LLC has handled the acquisition, renovation and financing of both apartment buildings, with a total hard cost renovation budget of $3.8 million for the Raymond Watkin Apartments, and over $3 million for the John Guy Prindle Apartments. The rehabilitation of both apartment buildings includes full replacement of kitchen cabinetry, countertops, sinks, flooring, doors, toilets, and paint. The common area of the property will be refurbished as well as will the exterior of the properties. Both properties will also receive carports and Raymond Watkin will receive solar rooftop and carport panels that will provide almost of the power that the community’s owner has paid for in the past. During the renovation, residents will still continue to live in their units. Hunt Mortgage Group arranged for $20.9 million of loans in order to acquire and rehabilitate the two properties.
