Showcasing collective impact, LIIF and community development financial institution (CDFI) partners Reinvestment Fund and Enterprise Community Loan Fund joined forces last year to close a $32 million loan to support the expansion of Forte Preparatory Academy, a high-performing charter school in Queens, New York. The project, led by APEX Development Group and Knickpoint Ventures, will transform a former parking lot into a 60,000-square-foot high school facility in one of the city’s most overcrowded school districts.
APEX Development Group
Founded in 2019 by Andrew Esposito, APEX Development Group is a New York City-based real estate development and services firm focused on value-add opportunities. While APEX is asset-class agnostic, its work emphasizes projects with strong community impact, including public education, affordable housing and nonprofit services.
“As a relatively new independent sponsor, our firm has faced challenges securing optimal financing, particularly for charter school developments,” Esposito explains. “But our team’s track record and relationships with mission-aligned lenders like LIIF have helped us navigate these complexities and grow our platform.”
The Forte Prep project exemplifies the kinds of deals APEX pursues: community-centered developments in historically underserved neighborhoods. The firm is currently focused on projects in Queens, Brooklyn and the Bronx.
Forte Prep: Expanding Access to Education
Located in Elmhurst, Queens, the new Forte Prep campus will serve 560 high school students in addition to the 353 students currently enrolled in fifth to eighth grades at the school’s existing site nearby. The district is one of the most linguistically diverse in the country, with more than 160 languages spoken and a high percentage of students qualifying for free or reduced-price lunch.
The new campus will include 38 classrooms and program spaces, a cafeteria, gymnasium, administrative offices and outdoor rooftop recreation areas. The facility is designed to support academic excellence and combat existing disparities — 77% of students in the area are not considered college-ready upon high school graduation.
“This project is about creating opportunity,” Esposito says. “We’re proud to help build the foundation for academic success in a community that deserves better access to high-quality education.”
Partnering for Impact
LIIF served as the lead lender on the deal, joined by Reinvestment Fund and Enterprise Community Loan Fund. According to Esposito, the process was both rigorous and rewarding.
“I’d describe it as seamless, collaborative and even fun,” he explains. “We had all-hands meetings with incredibly smart teams working through loan documentation, construction logistics and charter school underwriting. We came out of it having learned from each other and improved our own internal processes.”
LIIF’s participation in the transaction included capital from the NY Green Bank, which supports energy-efficient development projects across the state.
What’s Next for APEX
Looking ahead, APEX plans to continue focusing on mission-aligned projects that address community needs through thoughtful development.
“We take such pride in the work we do,” Esposito said. “Our goal is simple: keep working with great partners on projects that improve lives, create opportunities and build stronger, more equitable neighborhoods.”
LIIF is proud to support APEX Development Group in its commitment to inclusive growth and to expand access to essential community infrastructure in New York City.
As a relatively new independent sponsor, our firm has faced challenges securing optimal financing, particularly for charter school developments. But our team’s track record and relationships with mission-aligned lenders like LIIF have helped us navigate these complexities and grow our platform.
APEX Founder and Principal Andrew Esposito