Berkshire Group raises $161.5 mln for initial fund

Real estate investment management firm Berkshire Group has closed its first fund at $161.5 million. BRV Partners Fund I will focus on real estate operating companies with “high-quality management teams.”

PRESS RELEASE

BOSTON–(BUSINESS WIRE)–Berkshire Group, a real estate investment management company, today announced the closing of the BRV Partners Fund I (“the Fund”), with equity commitments of $161.5 million.

BRV Partners Fund I seeks to invest in growing, high-potential, real estate-related operating platforms nationwide. The Fund currently has two active platforms: a hotel investment company in partnership with Lodging Capital Partners; and a fully integrated senior housing development and management business in partnership with LCB Senior Living. The Fund plans to invest across additional platforms targeting operators in the west coast senior housing, self-storage, retail, office, industrial, medical office and mixed-use development sectors with experienced teams and strong deal flow.

“BRV Partners Fund I focuses on real estate operating companies with high-quality management teams that are experts in their regions and sectors,” said Larry Ellman, Managing Director, Head of Venture Investments. “We seek to actively partner with these management teams to set strategy and drive execution, and will add value through providing growth capital and leveraging our team’s diverse real estate operating and investment experience.”

About Berkshire Group
Berkshire Group is a real estate investment management company known for its multifamily investment and operational experience. Berkshire deploys capital primarily through equity, debt and development in the multifamily arena, as well as through opportunistic ventures in other real estate sectors such as senior housing, lodging, medical office and other non-multifamily property sectors. 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 across the multifamily real estate spectrum 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 March 31, 2015, Berkshire Group had $5.7 billion in assets under management. For more information on Berkshire, please visit www.berkshire-group.com.