2007 Vintage Fund Included 31 Investments with Total Capitalization of $588.7 million
BOSTON, MA — July 25, 2017 — Berkshire Residential Investments announced the sale of Berkshires at Rock Spring in Bethesda, Maryland, representing the final property sale of Berkshire Multifamily Value Fund II, L.P. The fund included a mix of 19 multifamily value-add properties, 2 multifamily developments and 10 multifamily debt investments. This was the second round-trip value-add fund for Berkshire.
“We launched the Fund in 2007 and its life spanned the recession and through the recovery, with the final sale occurring in July of this year,” noted Steve Parthum, Managing Director, Portfolio Manager, Berkshire. “This was the first Berkshire fund that included a mix of real estate, development and debt investments and it exceeded portfolio return expectations and outperformed on a relative basis. I could not be more pleased with its performance.”
“The ability to provide an attractive return on and of capital to our investors is significant for Berkshire,” noted Chuck Leitner, CEO, Berkshire. “The Fund’s performance is a testament to the talent that the company has cultivated over the last decade and our commitment to being dedicated and prudent stewards of capital for our clients.”
Private pension funds, private endowments, university endowments, foreign sovereign wealth, employees and high net worth investors made up the mix of 37 investors in Berkshire Multifamily Value Fund II, L.P.
About Berkshire Residential Investments
Berkshire 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 March 31, 2017, Berkshire had approximately $7.0 billion in real estate assets under management.
Berkshire Residential Investments