Dive Brief:
Digital design-build company Prescient announced today that it has closed a $190 million strategic investment and bonding support deal led by two long-term investors: Kansas City, Missouri-based construction firm JE Dunn and Greenwich, Connecticut-based holding company Eldridge.
The capital will accelerate Prescient s expansion and growth in the multifamily sector, according to a release shared with Construction Dive.
Since its founding in 2012, Prescient has completed 57 projects across the United States including hotels, student and senior housing, military barracks and apartment buildings.
Dive Insight:
The Charlotte, North Carolina-based company leverages offsite manufacturing and lightweight steel construction to help developers and general contractors create multifamily and hospitality projects more quickly and with less expense, according to the firm. All of its components are made from 100% recycled steel that can be taken apart, reused or recycled, the c