Skip to main content

Featured Post

Atlantic Yards/Pacific Park graphic: what's built/what's coming + FAQ (pinned post)

Full Stack Modular, successor firm at Navy Yard, raises $6 million

A press release from Full Stack Modular, the successor firm to the ill-fated Forest City Ratner and Skanska modular construction partnership, which Forest City later assumed to complete B2 (aka 461 Dean), and then sold. 

It's not easy to judge as an outsider, but $6 million strikes me as substantial but also not huge in terms of being used to "scale production" at the modular factory at the Brooklyn Navy Yard. That said, they fact that they could raise money--for a piece of the business?--is a vote of confidence.

The press release, headlined FullStack Modular Raises $6 Million in Series A Funding, stated:
NEW YORK, June 5, 2017 /PRNewswire/ -- FullStack Modular, LLC, the turnkey modular prefabricated solution for developers of multifamily buildings, hotels, and dormitories, announces the closing of a $6 million Series A round of funding. The investment is led by McCourt Global and includes real estate industry leaders Lawrence Benenson, Lloyd Goldman, Jonathan Grunzweig, Jonathan Langer, and Daniel Levene.
The funds will be used to scale production of FullStack Modular's 100,000 square foot design and construction facility in the Brooklyn Navy Yard, as well as facilitate company growth with an eye towards expanding to the west coast and abroad.
"We are excited to have this powerful group of investors involved in our business," said FullStack Modular CEO and Founder, Roger Krulak. "Our company is transforming the real estate construction business and the way mid and high-rise buildings are created. Our fully integrated design-build process incorporates innovative technologies such as Building Information Modeling [BIM], design for manufacturing, and lean construction management. The result is a process which is faster and more cost effective than conventional building, generates far less waste, enables safer site conditions, and is less disruptive to the surrounding neighborhoods."
"Roger and his team at FullStack Modular are bringing innovative technologies and processes to an industry long in need of greater efficiency," said Drew McCourt, President of McCourt Global. "We're pleased to support FullStack Modular as it scales its business and leverages growth opportunities both here in the United States and abroad." 
About FullStack Modular
FullStack Modular provides turnkey modular solutions for developers of new multifamily buildings, hotels and dormitories. FullStack Modular is dedicated to creating environmentally-conscious, cost-effective, and labor-friendly development. FullStack Modular incorporates the latest innovations in technology and manufacturing to shape the future of the real estate development and construction. The company is located in New York City, in the Brooklyn Navy Yard. For more information, please visit www.fullstackmodular.com or email info@fullstackmodular.com.

Comments