BEVERLY, Mass.--(BUSINESS WIRE)--Brookwood Financial Partners, LLC (“Brookwood”), a leading real estate investment and asset management company, today announced the final close of the Brookwood U.S. Real Estate Fund (“the Fund”) on March 31, 2015 with $233,000,000 in direct and co-investment equity raised. The firm expects that an additional $60,000,000 in co-investment equity will be invested in 2015, bringing the total equity raised for this strategy to $300,000,000. Through the end of the first quarter of 2015, the Fund had acquired 12 assets, consisting of 22 buildings and 2.7 million square feet for a total acquisition price of $410,075,000.
“We are extremely pleased with the conviction our investors have shown in our firm and our value-add investment strategy,” stated Thomas Nicholas Trkla, the Chairman, Chief Executive Officer and founder of Brookwood. Brookwood received commitments from a variety of investors, including public pension plans, college endowments, foundations, fund-of-fund firms, foreign trusts, fire and police pension plans, family offices and religious orders. “It has been rewarding working with investors who share enthusiasm for our value-add strategy and we are confident that our experienced team will deliver excellent returns as the real estate markets continue to recover.”
Brookwood began investing for the Fund in 2013 and is focused on acquiring value-add office, suburban office and industrial properties located in U.S. markets that have strong demographic characteristics, healthy job growth, diverse economies and limited new construction.
Brookwood anticipates a very active 2015. “We expect to sell three Fund assets in 2015, which is well ahead of the pace targeted in our underwriting, and anticipate that we will be fully-invested by the end of 2015,” stated Thomas W. Brown, Brookwood’s President and Director of Real Estate Acquisitions. “We also are looking into selling another 10 properties outside of the Fund this year. The acquisition pipeline for 2015 remains robust with opportunities consistent with our strategy of acquiring properties at deep discounts to replacement cost, making targeted capital improvements and eventually marketing them for sale in an improving market.”
About Brookwood Financial Partners, LLC – Brookwood is a Massachusetts-based private investment firm founded in 1993 that specializes in acquiring and managing commercial real estate and corporate securities on behalf of a select group of institutional and high net worth investors, family offices and trusts. Since its inception, Brookwood has invested over $730 million of equity to acquire a portfolio of 149 assets with a realized and unrealized value in excess of $1.9 billion that has spanned multiple asset classes, geographical markets and industries across the United States.