Real estate investment firm Berkshire Group has made an undisclosed investment in Leggat McCall Properties. Based in Boston, Leggat McCall is a commercial real estate developer.
BOSTON–(BUSINESS WIRE)–The Berkshire Group, on behalf of BRV Partners Fund I, LP, has made an investment and committed funds to grow the real estate operations of Leggat McCall Properties. For the past 50 years, Leggat McCall Properties has been an integral part of the Boston commercial real estate landscape. Its current focus is to source, finance and execute complex, mixed-use development and value-add investment opportunities in the Greater Boston MSA and to provide best-in-class advisory and project management service to large owners, users and investors. The funding provided will enable Leggat McCall Properties to source and execute over $1 billion of real estate investments in joint ventures with third-party institutional partners.
“Berkshire is very excited to become partners with Leggat McCall Properties and to help grow its principal investment activities and third-party advisory business,” stated Jason Grossman, Managing Director, Berkshire Group, Venture Investments. “We believe that Greater Boston will continue to be an attractive market for real estate investment given its position as a world leader in higher education, healthcare, life sciences and high tech. By partnering with a Boston-centric firm with deep relationships in these industries and particular expertise in the local mixed-use development business, we anticipate being able to capitalize on attractive investment opportunities.”
“Having Berkshire become our partner is a great step for our company,” said Mahmood Malihi, Co-President of Leggat McCall Properties. “We have built a great relationship with Berkshire principals through past dealings. We look forward to them participating in our strategic decisions as board members and believe that their strategy and capital-raising acumen will help accelerate our growth and bring us to new levels of success.”
About Berkshire Group
Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group. Over more than four decades, Berkshire’s team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge strategies, and operational experience. The Company has experience in disciplines including acquisitions, portfolio and property management, debt, development and redevelopment. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco. As of June 30, 2016, Berkshire Group had approximately $7.2 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshire-group.com.
About Leggat McCall Properties
Leggat McCall Properties is a leading provider of real estate development services and an opportunistic investor in the Boston real estate market. LMP is known throughout the industry for providing best-in-class advisory and project management services to large owners, users and investors. Since 2001, LMP has been involved in projects totaling nearly $11 billion in development costs, with over 30 of these projects costing more than $100 million each. LMP has established a dominant presence within the rapidly growing higher education, healthcare and life sciences industries in Boston, with a stellar track record servicing many of the area’s pre-eminent universities, healthcare systems and biotech companies on a repeat basis. For more information on LMP, please visit www.lmp.com.