The Carlton Group arranged a $455 million recapitalization of Brookwood Financial’s suburban office portfolio.
The portfolio comprises 27 office properties near major metropolitan areas in the Northeast corridor, Florida, Texas, and California, totaling more than 4.3 million square feet.
JPMorgan Chase provided the debt financing Brookwood utilized to recapitalize an existing loan, using a portion of the proceeds to buy out minority partners. Brookwood raised their own equity to complete the transaction.
“Brookwood Financial is an innovative real estate investor that wanted to move quickly to optimize its position within more than two dozen investments across the country ahead of changing market dynamics,” said Michael Campbell, CEO of The Carlton Group.
“We were able to work closely with the sponsor’s team and JPMorgan Chase to structure a single transaction that allows Brookwood to buy out partners and gain maximum return on investment over the long term for wide range of office properties.”
Brookwood Financial is a Massachusetts-based private equity real estate investment firm that specializes in acquiring and managing value-add commercial real estate and related operating businesses on behalf of a select group of institutional investors.