Bloomfield Capital, a real estate private equity firm, has closed its third fund at $100 million. Bloomfield Capital Income Fund III’s limited partners include retirement systems, pension plans and institutional foundations. The fund will focus on commercial real estate bridge loans, mezzanine loans, and select preferred equity and joint-venture opportunities nationwide.
BIRMINGHAM, Mich., Jan. 18, 2018— Bloomfield Capital, a leading real estate private equity firm, announced that it recently closed its third fund, raising $100 million in total capital commitments. The Fund, Bloomfield Capital Income Fund III (BCIF III), was oversubscribed and closed above its target of $75 million. This is the largest fund raised to date by Bloomfield, which closed its second fund (BCIF II) in 2014 with $60 million in commitments.
Investors in Bloomfield’s third fund include municipal retirement systems, pension plans, and institutional foundations throughout the country. Over 70% of the institutional investors from Bloomfield’s prior fund signed on to Fund III.
Commenting on the fund closing, Bloomfield Managing Partner Nicholas Coburn said, “We are grateful for the strong support of our returning and new investors who have shown confidence in our team, investment approach and performance since 2008.”
Similar to Bloomfield’s prior funds, BCIF III will invest in commercial real estate bridge loans, mezzanine loans, and select preferred equity and joint-venture opportunities nationwide. BCIF III has already deployed $95.1 million in 44 transactions across 17 different U.S. states as of December 31, 2017. Fund investments have been collateralized by all major commercial property types including multifamily, office, industrial, retail, and hospitality.
Bloomfield Managing Partner Jason Jarjosa stated, “Bloomfield continues to present a strong value proposition to investors looking to earn higher risk-adjusted returns in a persistent low-yield environment.”
Since 2008, Bloomfield has invested over $500 million in transactions across 26 U.S. states. Today, the firm’s accomplished investment team has over $200 million in assets under management (AUM) and is led by Nicholas Coburn, Jason Jarjosa, and Renee Lewis.
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Greenwich, and Portland, Maine, Bloomfield Capital’s team draws from a broad base of commercial real estate and finance expertise. The firm provides debt and equity solutions to meet the demands of time-sensitive and complex transactions. Bloomfield Capital invests in commercial real estate through the origination or acquisition of high-yield credit opportunities and select joint-venture equity investments in the $1-20 million range.