20-year-old investment firm raises its largest fund ever with more than $516 million.
Online PR News – 19-December-2014 – Atlanta, GA – Atlanta, GA, December 15, 2014 – The Brookdale Group, LLC, an Atlanta-based commercial real estate investment company, announced today that the firm has completed the fundraising for its most recent investment fund, Brookdale Investors Seven, L.P. With total capital commitments of $516,575,000, the new fund includes a total of 16 institutional investors as limited partners – predominantly educational endowments and private foundations – with Brookdale serving as general partner and investor.
Fund Seven is the largest investment fund which Brookdale has raised in the firm’s twenty-year history, providing the firm with the ability to invest (on a leveraged basis) approximately $1.4 billion in the purchase or recapitalization of existing Class A office properties or in the development of new office buildings located in the Sunbelt region of the United States. With the formation of Fund Seven, Brookdale has now sponsored commercial real estate investment funds with total capital commitments of approximately $2.0 billion. The first six Brookdale investment funds made investments in 72 Sunbelt office buildings totaling more than 10.5 million square feet, and 17 of those buildings (totaling almost 4.0 million square feet) are still owned by the firm’s fifth and sixth funds. The Sunbelt markets being targeted by Brookdale for Fund Seven investments include Atlanta, Austin, Charlotte, Dallas/Ft. Worth, Ft. Lauderdale, Houston, Miami, Nashville, Orlando, Palm Beach, Raleigh, San Antonio, Tampa and the northern Virginia and Maryland suburbs of Washington, D.C.
“We are extremely grateful for the support of our institutional investor partners, particularly in light of the fact that they committed almost 30 percent more to Fund Seven than our originally targeted amount, enabling us to complete the fundraising process for the new fund in less than four-and-a-half months,” said Chip Davidson, Brookdale’s Co-Founder, Chairman and CEO.
The Brookdale Group, LLC (www.BrookdaleGroup.com) is a privately held commercial real estate investment company established in Atlanta in September 1994 by real estate industry veterans Davidson and Fred Henritze. The company provides investment and asset management services exclusively to its sponsored real estate funds, on whose behalf the firm exercises full and complete discretion with respect to both investment and disposition decisions.
For more information, contact:
Seabie Hickson, Executive Vice President
Dan Ethridge, Executive Vice President
Robert Turner, Executive Vice President
The Brookdale Group, LLC