Download Brochure - The Brookdale Group

COMPANY OVERVIEW
The Brookdale Group is a privately held
commercial real estate private equity firm
founded in 1994 in Atlanta, Georgia. Through
its sponsored closed-end investment funds,
Brookdale makes commercial real estate
investments on behalf of the firm’s principals
and institutional co-investment partners.
Since its formation, Brookdale has sponsored
seven investment funds which have focused
on making “value-add” and “near-stabilized”
real estate investments (primarily in office
properties) located within the Mid-Atlantic,
Southeast and Southwest regions of the United
States.
The Towers at Williams Square
Dallas, Texas
1
ABOUT THE BROOKDALE GROUP
Since the firm’s formation, Brookdale’s investment funds have made investments totalling more
than $2 billion in more than seventy-five Sunbelt properties. The first four Brookdale funds have
been fully liquidated, generating total sales revenues in excess of $1 billion for the Brookdale
funds and their joint venture partners.
Brookdale has been an active investor and investment
manager through both strong and weak real estate
and capital market cycles, including those markets
which accompanied the “S&L crisis” of the early
1990’s, the rapid expansion and subsequent market
collapse related to the technology boom in the early
2000’s, the economic turmoil which followed the
terrorist attacks of September 11, 2001, the consumerand debt-driven bull market of 2005 through 2007 and,
most recently, the financial crisis which precipitated
the “Great Recession” of 2008 and 2009. During these
times, Brookdale has demonstrated sound judgment
and discipline with respect to when to invest, when
to sell, and importantly, when to stay on the sidelines.
The Brookdale Group has assembled and retained a
team of seasoned real estate professionals which now
includes seven partners, each of whom has extensive
real estate operating and investment experience. The
Brookdale partners have an average tenure with the
firm of more than nineteen years, and Brookdale’s
most recently named partner joined the organization
more than fourteen years ago.
NOR T HERN
VIRGINIA
& MARYL AND
NASHVI LLE
CHARLOT T E
ATL ANTA
DA L L A S
AU S TIN
SAN
A N TON IO
ORL ANDO
H OUS TO N
TAM PA
PALM BEAC H
FT L AUDERDALE
MIAMI
2
COMPANY HISTORY
Headquarters: Atlanta, GA
Founded: 1994
Primary Geography: Brookdale Investment Funds
Investment Fund
Inception
Committed
Capital
U.S. Sunbelt
Number of
Institutional
Investors
Status
Brookdale Investors I
1994
$75 million
7
Fully Liquidated
Brookdale Investors II
1996
$129 million
12
Fully Liquidated
Brookdale Investors III
1998
$128 million
12
Fully Liquidated
Brookdale Investors IV
2001
$270 million
13
Fully Liquidated
Brookdale Investors V
2004
$460 million
21
Active Management
Brookdale Investors VI
2009
$410 million
32
Active Management
Brookdale Investors VII
2014
$517 million
18
Active Investing
3445 Peachtree
Atlanta, Georgia
Corporate Center I
Fort Lauderdale, Florida
3
INVESTMENT OVERVIEW
Institutional Investors
Brookdale’s institutional co-investors consist of some
of the nation’s best known university endowments,
foundations and charitable trusts. Through its seven
sponsored investment funds to date, Brookdale has
enjoyed a working relationship with a total of 41 such
institutional investors, 37 of whom are co-investors in
the firm’s three currently active funds.
Services Provided
The Brookdale Group, LLC and Brookdale Realty
Services, LLC provide real estate investment services
exclusively to the Brookdale-sponsored investment
funds. Among the services provided are identification
of investment opportunities, evaluation of prospective
investments for conformance with each fund’s
objectives, negotiation and consummation of
transactions, and ongoing asset management with
respect to the funds’ portfolios.
Discretion
Full investment and liquidation discretion is afforded to the Brookdale affiliate that is the sole
general partner of each of the Brookdale-sponsored investment funds.
Alignment of Interests
To ensure that a sharp investment focus is maintained
and that conflicts of interest between Brookdale and its
institutional co-investors in each fund are eliminated or
minimized, Brookdale has elected not to provide to its
investment funds fee-based services such as property
management, leasing or construction management.
International Place I
Fort Lauderdale, Florida
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INVESTMENT APPROACH
Experience-Based
Brookdale’s seven partners have spent their entire
real estate careers working in the U.S. Sunbelt markets,
acquiring, developing, redeveloping, managing,
leasing, financing and selling office properties and
land. Brookdale’s current investment activities
continue to be directed by that geographic and
property-type experience.
Sharply Focused
Brookdale is a focused investor, concentrating its
efforts primarily on value-add office properties located
in a limited number of primary and secondary target
markets in the Sunbelt region of the United States.
Brookdale seeks to invest in multiple office properties,
diversified by geography and tenant profile. Brookdale
also seeks investment opportunities where value can
be enhanced through intensive asset management.
The Pinnacle
Atlanta, Georgia
Highly Responsive
Brookdale has deliberately maintained the firm’s
relatively small size so as to streamline decision-making
and enhance asset management effectiveness.
Because of the firm’s horizontal organizational structure
and experienced management team, Brookdale has
the ability to react quickly to investment opportunities
and to proceed expeditiously through the evaluation,
due diligence and closing phases of a real estate
investment transaction. Above all, Brookdale seeks
to maintain the firm’s reputation in the industry for its
ability to close reliably and quickly on even the most
complex transactions.
Galleria 300
Atlanta, Georgia
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SENIOR LEADERSHIP TEAM
Charles L. “Chip” Davidson, III
Co-founder, Chairman and Chief Executive Officer
Brookdale Responsibilities
Mr. Davidson is responsible for the formulation and
implementation oversight of Brookdale’s investment and
disposition strategies, monitoring of existing investments, and
tracking of economic, real estate and capital markets trends.
Professional Experience
Prior to founding Brookdale in 1994, Mr. Davidson spent
16+ years with Houston-based real estate company Hines,
where he was the Executive Vice President/Regional Partner
responsible for oversight of all investment, development,
property management, leasing and asset management
activities in Hines’ Southeast Region.
Education
Mr. Davidson holds a BA in Economics from Davidson College
and an MBA from Harvard Business School.
Memberships and Civic Involvement
Mr. Davidson is a current member and past Chairman of the Board of Directors of the National
Association of Real Estate Investment Managers (NAREIM) and is active in several other industry
organizations including the Urban Land Institute and the National Association of Industrial and
Office Properties (NAIOP). He has addressed numerous real estate groups and conferences
and has been a visiting lecturer at educational institutions including Yale University’s School of
Management, Harvard Business School, the Goizueta School of Business at Emory University and
the Georgia Tech Graduate College of Management.
In addition, Mr. Davidson has held leadership roles with numerous local and regional community
organizations, and is a founder and past Chairman of the Board of Directors of the Georgia
Center for Child Advocacy, a past Chairman of the Board of Directors of the St. Joseph’s Mercy
Foundation, a past member of the Georgia State Properties Commission, a former Chairman of
the Board of Visitors and former member of the Board of Trustees of Davidson College, a current
member of the Shepherd Center Foundation Board of Trustees, a current member of the Honorary
Board of Trinity House Community Ministries and a former member of the Executive Committee of
Northside United Methodist Church.
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SENIOR LEADERSHIP TEAM
Fred H. Henritze
Co-founder, President and Chief Operating Officer
Brookdale Responsibilities
With respect to Fund V and Fund VI, Mr. Henritze is responsible
for the monitoring of existing investments, oversight of leasing
activities related to Lakeview West, and formulation and
implementation of disposition strategies. With respect to
Fund VII, Mr. Henritze is responsible for the formulation and
implementation of investment strategy, review of prospective
investments, monitoring of real estate markets conditions and
due diligence, and oversight of leasing activities related to all
investments.
Professional Experience
Prior to founding Brookdale in 1994, Mr. Henritze spent 10
years with Houston-based real estate company Hines, where
he was Vice President of Marketing/Leasing for the Hines
Southeast Region. While at Hines, Mr. Henritze developed
leasing and marketing plans for individual projects and portfolios, supervised marketing and
leasing professionals, and negotiated major tenant leases.
Education
Mr. Henritze holds a BBA degree from The College of William and Mary.
Memberships and Civic Involvement
Mr. Henritze is currently a Trustee of The College of William and Mary. Additionally, he is a Board
Member of The William and Mary Foundation where he serves on the Foundation’s Investment
Committee.
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SENIOR LEADERSHIP TEAM
Seabie W Hickson, III
Executive Vice President and Partner
Brookdale Responsibilities
With respect to Fund V, Mr. Hickson is primarily responsible
for asset management, formulation and implementation
of operating budgets and disposition strategies, and
preparation of internal valuations for all Fund V investments.
In addition, Mr. Hickson is responsible for the oversight of
documentation related to all investments and financings,
monitoring of financing market conditions and offered terms,
and establishing and maintaining the company’s financing
relationships.
Professional Experience
Prior to joining The Brookdale Group at its formation in 1994, Mr.
Hickson was primarily responsible for the acquisition activities
of Hines’ Southeast Region. Mr. Hickson has worked in the
finance, development, and investment areas of the real estate
industry since 1978. His experience includes development
management, asset management, arranging debt and equity capital for investments in a
range of different asset classes, and managing the asset disposition process.
Education
Mr. Hickson holds a BBA and MA/Real Estate Finance from the University of Georgia.
8
SENIOR LEADERSHIP TEAM
Dan Ethridge
Executive Vice President and Partner
Brookdale Responsibilities
With respect to Fund VI, Mr. Ethridge shares primary responsibility
for asset management of certain Fund VI investments, and the
formulation and implementation of disposition strategies for
those investments. With respect to Fund VII, Mr. Ethridge shares
primary responsibility for the implementation of investment
strategy, preparation of financial analyses, conducting
market due diligence and management of the pursuit and
acquisition process for all prospective investments.
Professional Experience
Prior to joining Brookdale in 1997, Mr. Ethridge spent three
years with the Atlanta office of Compass Management and
Leasing, a subsidiary of Equitable Real Estate Management
(now Morgan Stanley).
Education
Mr. Ethridge holds a BBA degree from the University of Georgia.
Memberships
Mr. Ethridge is a member of the Georgia Chapter of the National Association of Industrial and
Office Properties (NAIOP) and a member of the National Association of Real Estate Investment
Managers (NAREIM).
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SENIOR LEADERSHIP TEAM
Robert Turner
Executive Vice President and Partner
Brookdale Responsibilities
With respect to Fund V, Mr. Turner shares primary responsibility
for the formulation and implementation of disposition strategies
and preparation of internal valuations for the University
Center land and the Lakeview West office properties. With
respect to Fund VI, Mr. Turner shares primary responsibility for
asset management of certain Fund VI investments, and the
formulation and implementation of disposition strategies for
those investments. With respect to Fund VII, Mr. Turner shares
primary responsibility for the implementation of investment
strategy, preparation of financial analyses, conducting
market due diligence and management of the pursuit and
acquisition process for all prospective investments.
Professional Experience
Prior to joining Brookdale in 2001 as an acquisitions analyst, Mr.
Turner worked for three years in the Atlanta office of Highwoods
Properties, where he was responsible for the leasing of office and industrial properties.
Education
Mr. Turner holds a BBA degree from the University of North Carolina at Chapel Hill.
Memberships
Mr. Turner is a member of the board and the 2015 President of the Georgia Chapter of the
National Association of Industrial and Office Properties (NAIOP), a full member of the Urban
Land Institute (ULI), a graduate of the Urban Land Institute Center for Leadership, and a member
of the National Association of Real Estate Investment Managers (NAREIM).
10
SENIOR LEADERSHIP TEAM
David Hendrickson
Senior Vice President/Controller and Partner
Brookdale Responsibilities
Mr. Hendrickson is responsible for oversight and quality control
with respect to the financial analyses of all prospective
investments, monitoring of existing investments, financial
reporting to all partners with respect to all Brookdale
investment funds, coordination of tax returns preparation and
financial audits by third-party CPA firms, and formulation and
monitoring of Brookdale’s internal controls, business continuity
measures and internal valuations.
Professional Experience
Mr. Hendrickson is a Certified Public Accountant. He began his
career with Arthur Andersen in 1984. Prior to joining Brookdale
in 1994, Mr. Hendrickson was a controller with Hines’ Southeast
Region.
Education
Mr. Hendrickson holds BBA and BS degrees from Iowa State University.
11
SENIOR LEADERSHIP TEAM
Patrick D. Walsh
Senior Vice President/Operations and Partner
Brookdale Responsibilities
With respect to Fund V, Mr. Walsh has primary responsibility for
monitoring/oversight of property management of Lakeview
West and University Center. With respect to Fund VI, Mr.
Walsh has primary responsibility for monitoring/oversight of
property management and operational activities and capital
improvement projects at all owned properties. With respect
to Fund VII, Mr. Walsh oversees the physical due diligence
for all prospective investments, and has primary responsibility
for monitoring/oversight of property management and
operational activities and capital improvement projects at all
owned properties.
Professional Experience
Prior to joining Brookdale in 1996, Mr. Walsh spent six years with
Houston-based real estate company Hines, where he was a
property manager in the firm’s Southeast Region. Mr. Walsh served in the U.S. Army from 19841990 in the 11th Armored Calvary Regiment in Fulda, Germany.
Education
Mr. Walsh holds a BS degree from the U.S. Military Academy at West Point, and an MBA from
Georgia State University.
Memberships
Mr. Walsh is a Certified Property Manager (CPM) and a Certified Commercial Investment
Member (CCIM).
12
PREVIOUS INVESTMENT FUNDS
Brookdale Investors One, L.P.
Brookdale Investors One, L.P. (“Fund I”) was formed in 1994 with $75 million of capital commitments.
Fund I acquired the below-listed properties, representing 1,475,195 SF. The entire Fund I portfolio
was sold in a single transaction in February 1998.
Property
Hillsboro Center
Provident Building
Executive Tower
Location
Deerfield Beach, FL
Greenville, SC
Knoxville, TN
Square
Feet
215,317
46,047
91,977
Atrium at Bent Tree
Dallas, TX
111,823
The BelvedereDallas, TX140,981
One Sugar CreekHouston, TX197,048
One Commerce Green
Houston, TX
339,592
Lynnwood Plaza
Virginia Beach, VA
81,730
Loudoun Plaza
Sterling, VA
71,273
Glen Forest
Richmond, VA
80,897
Moorefield II
Richmond, VA
47,203
Moorefield III
Richmond, VA
51,307
Hillsboro Center One
Deerfield Beach, Florida
One Sugar Creek
Houston, Texas
13
Loudoun Plaza
Sterling, Virginia
PREVIOUS INVESTMENT FUNDS
Brookdale Investors Two, L.P.
Brookdale Investors Two, L.P. (“Fund II”) was formed in 1996 with $129 million of capital commitments.
Fund II made investments in the below-listed properties, representing 1,180,023 SF. The Fund II
portfolio was completely liquidated in August 2005.
Property
Paragon Centre I & II
Paragon Place
Concourse Lakeside One & Two
Location
Louisville, KY
Louisville, KY
Raleigh, NC
Square
Feet
123,876
83,469
155,247
Acquired or
Developed
Acquired
Acquired
Developed
MeridianDallas, TX100,283
Acquired
Lincoln Place I & II
Dallas, TX
297,758
Developed
Timberway One
Houston, TX
92,142
Acquired
Greenbriar Corporate Center
Chantilly, VA
111,720
Acquired
Dulles Tech Center I & II
Herndon, VA
166,821
Developed
Stony Point II
Richmond, VA
48,707
Acquired
Lincoln Place I & II
Dallas, Texas
Paragon Centre I & II
Louisville, Kentucky
14
PREVIOUS INVESTMENT FUNDS
Brookdale Investors Three, L.P.
Brookdale Investors Three, L.P. (“Fund III”) was formed in 1998 with $128 million of capital commitments.
Fund III made investments in the below-listed properties, representing 1,100,861 SF. The Fund III
portfolio was completely liquidated in August 2005.
Property
Ridgeview I, II & III
Reserve at Greens Crossing I
Reserve at Greens Crossing II
Eldridge Place I & II
Location
Chantilly, VA
Houston, TX
Houston, TX
Houston, TX
Square
Feet
266,535
157,790
157,790
518,746
Acquired or
Developed
Developed
Developed
Developed
Acquired
Ridgeview I
Chantilly, Virginia
Eldridge Place I & II
Houston, Texas
Reserve at Greens Crossing I
Houston, Texas
15
PREVIOUS INVESTMENT FUNDS
Brookdale Investors Four, L.P.
Brookdale Investors Four, L.P. (“Fund IV”) was formed in 2001 with $270 million of capital commitments.
Fund IV acquired the below-listed properties, representing 2,688,907 SF. The Fund IV portfolio was
completely liquidated in August 2005.
Property
Location
One Resource Square
Two Resource Square
Three Resource Square
International Plaza One
International Plaza Two
International Plaza Three
Hidden River One
Hidden River Two
Hidden River Three
Deerfield Corp. Center One
Deerfield Corp. Center Two
Satellite Place 300
Satellite Place 400
Satellite Place 600
Satellite Place 700
Satellite Place 800
Three Resource Square
Orlando, Florida
Orlando, FL
Orlando, FL
Orlando, FL
Tampa, FL
Tampa, FL
Tampa, FL
Tampa, FL
Tampa, FL
Tampa, FL
Atlanta, GA
Atlanta, GA
Atlanta, GA
Atlanta, GA
Atlanta, GA
Atlanta, GA
Atlanta, GA
International Plaza Three
Tampa, Florida
16
Square
Feet
90,667
123,133
154,161
383,618
286,124
290,101
132,360
132,238
150,060
132,606
132,622
132,363
132,700
150,420
132,870
132,864
Hidden River Two
Tampa, Florida
CURRENTLY ACTIVE INVESTMENT FUNDS
Brookdale Investors Five, L.P.
Brookdale Investors Five, L.P. (“Fund V”) was formed in 2004 with $460 million of capital commitments.
Fund V made investments in the below-listed properties, representing 411,962 SF of office space and
24,073 acres of commercial and non-commercial land. Three of Fund V’s investments have been
fully liquidated, including the Lincoln Legacy One office building (which was sold in December
2008), the Lincoln Legacy Two Land (which was sold in July 2013) and the Alamo Parkside Land
(which was sold in August 2013), and the remainder of the Fund V portfolio is currently under active
asset management and/or active disposition.
Property
Location
Lakeview West Office Development
University Center Land Centergy North Land
Lincoln Legacy Two Land Horry County Land 211 Midway Land Alamo Parkside Land
Mustang Island Land
Westland Land Mooresville Land Lincoln Legacy One Office Development
Centergy North Land
Atlanta, Georgia
Dallas, TX
Ashburn, VA
Ashburn, VA
Atlanta, GA
Dallas, TX
Myrtle Beach, SC
Wilmington, NC
Houston, TX
Port Aransas, TX
Athens, GA
Charlotte, NC
Acres
207,834 SF
204,128 SF
60 Acres
7.15 Acres
2.6 Acres
20,259 Acres
1,439 Acres
1,246 Acres
534 Acres
420 Acres
105 Acres
Mustang Island Land (Bay Front)
Port Aransas, Texas
17
CURRENTLY ACTIVE INVESTMENT FUNDS
Brookdale Investors Six, L.P.
Brookdale Investors Six, L.P. (“Fund VI”) was formed in December 2009 with $410 million of capital
commitments. Fund VI acquired the below-listed properties which include a total of 15 office
buildings containing 3,658,138 SF of office space. Seven of Fund VI’s investments have been fully
liquidated, including SunTrust Financial Centre (which was sold in September 2015); The Towers at
Williams Square and the four-building Sawgrass Office Portfolio (which were sold in October 2015);
and SunTrust Center and Galleria 300 (which were sold in November 2015). The remainder of the
Fund VI portfolio is currently under active asset management and/or active disposition.
Property
Location/Submarket
Square
Feet
The Towers at Williams Square
Dallas, TX/Las Colinas
SunTrust Center
Orlando, FL/CBD
654,618
SunTrust Financial Centre
Tampa, FL/CBD
526,854
Galleria 300
Atlanta, GA/Cumberland-Galleria
432,934
Sawgrass Office Portfolio
Fort Lauderdale, FL/Sawgrass
348,674
Nottingham Hall
Raleigh, NC/RTP
105,830
Trinity Place
Raleigh, NC/West Raleigh
114,547
Raleigh, NC/West Raleigh
78,701
Palisades I
SunTrust Financial Centre The Towers at Williams Square
Dallas, Texas
Tampa, Florida
18
1,395,980
SunTrust Center
Orlando, Florida
CURRENTLY ACTIVE INVESTMENT FUNDS
Brookdale Investors Seven, L.P.
Brookdale Investors Seven, L.P. (“Fund VII”) was formed in December 2014 with $517 million of capital
commitments. At the present time, Fund VII is actively seeking to make investments as follows:
Targeted Property Types Existing Value-Add, Opportunistic or Core-Plus
Office Portfolios or Single Assets, or To-Be-Developed Office Buildings in Select Submarkets
Geographic Preference CBD or Surburban
Submarkets in the Mid-
Atlantic, Southeast and
Southwest regions of the U.S.
Building Size
100,000 SF +
Building Attributes
Class A/B+
Multi-tenantable
Minimum Transaction Size $25 Million
Maximum Transaction Size $1 Billion
Leverage
0 - 65% of Investment Cost
Investment Structures Outright Acquisitions
Recapitalizations/Joint Ventures
Development Joint Ventures
19
777 Main
Fort Worth, Texas
CURRENTLY ACTIVE INVESTMENT FUNDS
Brookdale Investors Seven, L.P.
To date, Fund VII has made investments in the below-listed properties, representing 3,364,787
rentable square feet (RSF) of office space, 61,762 RSF of retail space, and 12.8 acres of future
development land.
Property
Location/Submarket
Size
777 Main
The Pinnacle
3445 Peachtree
Mansell Overlook Office
Mansell Overlook Retail
Mansell Overlook Land
Fort Worth, TX/CBD
Atlanta, GA/Buckhead
Atlanta, GA/Buckhead
Alpharetta, GA/North Fulton - GA 400
Alpharetta, GA/North Fulton - GA 400
Alpharetta, GA/North Fulton - GA 400
954,895 RSF
424,350 RSF
286,648 RSF
653,894 RSF
35,862 RSF
12.8 Acres
Northwinds Office
Northwinds Retail
Alpharetta, GA/North Fulton - GA 400
Alpharetta, GA/North Fulton - GA 400
1,045,000 RSF
25,900 RSF
777 Main
Fort Worth, Texas
The Pinnacle
Atlanta, Georgia
20
Mansell Overlook Building 100
Alpharetta, Georgia
CURRENTLY OWNED PROPERTIES
TEXAS PROPERTIES
777 Main
777 Main is a Class A office building in downtown Fort Worth. The project is situated on approximately 3.22
acres, consisting of all or a portion of four city blocks adjacent to the Sundance Square mixed-use district.
Project Facts:
Submarket
Fort Worth CBD
Floors
38 above-grade; 2 below-
grade
Net Rentable Area 954,895 SF
Year Built
1982
Date Acquired
12/2014
Brookdale Fund
Brookdale Investors Seven, L.P.
777 Main
Mustang Island Land
The Property lies within the City Limits of Port Aransas, Texas on Mustang Island. It consists of three contiguous
tracts of land totalling approximately 534 gross acres. The Beach Tract contains 100 gross acres and has
1,951 feet of beach frontage on the Gulf of Mexico. The Marina and Canals Tract contains 425 gross acres
and has 1.3 miles of frontage on and deep water access to Corpus Christi Bay.
The Marina and Canal Tract has PUD zoning in place for both tracts allowing residential, hotel, retail and
restaurant development. A USACE Marina Permit provides the ability to construct a commercial marina,
approximately 2.2 miles of canals and at least 589 boat slips. There is bay and gulf access through the Flato
Cut, and over 1 mile of frontage on State Highway 361.
Project Facts:
Submarket
Port Aransas
Land Area
534 acres
Beach Frontage
1,951 linear feet
Bay Frontage
6,800 linear feet
Zoning
PUD - Mixed Use
Approved Density 2,266 residential units
Date Acquired01/2008
Brookdale Fund
Brookdale Investors Five, L.P.
Area Map
21
CURRENTLY OWNED PROPERTIES
GEORGIA PROPERTIES
The Pinnacle
The Pinnacle is a Class AA office tower in the Buckhead submarket of Atlanta. The project is situated on
a 3.74-acre parcel located at the northeast corner of the intersection Peachtree Road and Lenox Road,
the location generally considered to be “Main and Main” in one of Atlanta’s healthiest and most active
office submarkets.
Project Facts:
Submarket
Buckhead
Floors 21
Net Rentable Area424,350
Year Built
1998
Date Acquired
01/2015
Brookdale Fund
Brookdale Investors Seven, L.P.
The Pinnacle
3445 Peachtree
3445 Peachtree is an exceptionally well-located Class B+ office building in the Buckhead submarket of
Atlanta. Immediately adjacent to The Pinnacle, the project is situated on a 2.1-acre parcel located at
the intersection of Peachtree Road and Lenox Road, the location generally considered to be “Main and
Main” in one of Atlanta’s healthiest and most active office submarkets.
Project Facts:
Submarket
Buckhead
Floors 13
Net Rentable Area286,648
Year Built
1969
Date Acquired
01/2015
Brookdale Fund
Brookdale Investors Seven, L.P.
3445 Peachtree
22
CURRENTLY OWNED PROPERTIES
TEXAS
GEORGIA
PROPERTIES
PROPERTIES (continued)
Mansell Overlook
Mansell Overlook is a seven-building master-planned mixed-use project located at the northwest
and southwest corners of the intersection of Mansell Road and Westside Parkway in the North
Fulton/GA 400 submarket of Atlanta, Georgia. Situated on an approximately 67-acre site, the
project consists of four six-story Class A office buildings, three one-story retail buildings, and two
pad sites entitled for future development.
Project Facts:
Aerial View of Mansell Overlook
Submarket
Office Buildings
Floors
Retail Buildings
Floors
Net Rentable Area
Years Built
Retail Site Land Area
Office Site Land Area
Date Acquired
Brookdale Fund
North Fulton/GA 400
4
6
3
1
689,756
1996 - 2005
1.7 acres
11.1 acres
08/2015
Brookdale Investors Seven, L.P.
Northwinds
Northwinds is a nine-building master-planned mixed-use project located in the North Fulton/GA400
submarket of Atlanta, Georgia. Situated on an approximately 66-acre site, the project consists of
seven six-story Class A office buildings, one two-story retail building, and one restaurant building.
Project Facts:
Submarket
Office Buildings
Floors
Retail/Restaurant Buildings
Floors
Net Rentable Area
Years Built
Date Acquired
Brookdale Fund
Aerial View of Northwinds I, II, III, IV, V, & VI
23
North Fulton/GA 400
7
6
2
2
1,070,900
1997 - 2000
07/2016
Brookdale Investors Seven, L.P.
CURRENTLY OWNED PROPERTIES
TEXAS
GEORGIA
PROPERTIES
PROPERTIES (continued)
Westland Land
Westland is a 420-acre land tract located 10 miles west of Athens, Georgia near the intersection
of State Road 53 and U.S. Highway 78. The Property consists of 253 acres of partially developed
residential and commercial land and a 167-acre forested area designated as a preservation
area. The property borders the Apalachee River and includes 8 streams and associated wetlands
within the preservation area. These streams will be restored in accordance with a mitigation bank
permit obtained from the United States Army Corps of Engineers.
Project Facts:
Submarket
Athens
Land Area
420 acres
ZoningR-1 MPD
Approved Density 380 Residential Units, 26 Acres Commercial
Mitigation Bank
76,000 Stream Credits, 58 Wetland Credits
Date Acquired
12/2007
Brookdale Fund
Brookdale Investors Five, L.P.
Aerial Photo of Westland
24
CURRENTLY OWNED PROPERTIES
SOUTH CAROLINA PROPERTIES
Horry County Land
The Horry County Land consists of 14 discreet ownership ventures which collectively own a total of
20,259 acres. With greater than 13 miles of river frontage as well as common borders with nature
preserve land, this portfolio offers multiple recreational, housing and investment opportunities. 13
of the 14 parcels are located within 15 minutes of the beaches in and around Myrtle Beach.
Project Facts:
Land Area20,259 acres
Remaining Land Area
18,964 acres
Number of Parcels
14
Remaining Number of Parcels
13
Date Acquired
06/2008
Brookdale Fund
Brookdale Investors Five, L.P.
Horry County Parcel Map
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CURRENTLY OWNED PROPERTIES
NORTH CAROLINA PROPERTIES
211 Midway Land
211 Midway Land is located along and north of Highway 211, less than one mile from the intersection
of Highway 211 and Midway Road. The state of North Carolina has completed construction on
the extension of Midway Road (including a new bridge) across the Intercoastal Waterway to Oak
Island, thus enabling traffic from US Highway 17 to have convenient beach access via Midway
Road.
Project Facts:
Location Wilmington
Total Land Area
1,439 acres
Zoning
R-7500
Operating Partner Palmetto Land Investment Company
Date Acquired
09/2007
Brookdale Fund
Brookdale Investors Five, L.P.
Aerial Photo Looking South Toward Ocean
Mooresville Land
The Mooresville Land is located at the intersection of Rocky River Road and State Highway 3 in
the town of Mooresville, 30 miles north of Charlotte North Carolina. The investment consists of
two adjacent land parcels of 55 and 50 acres. These are two of only remaining undeveloped
residential parcels with existing sewer in the Coddle Creek submarket. The nearby newly
constructed Mooresville elementary and middle schools are a major draw for new home buyers.
Project Facts:
Location Charlotte
Total Land Area
105 acres
Zoning
CU-RI5 PRC
Operating Partner DuBose Commercial Real Estate Services, LLC
Approved Density 237 Single Family Lots
Date Acquired
03/2007
Brookdale Fund
Brookdale Investors Five, L.P.
Aerial Photo
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CURRENTLY OWNED PROPERTIES
VIRGINIA PROPERTIES
Lakeview West Office Development
Lakeview West is an office development which consists of two completed office buildings each
totalling 102,064 square feet. The development is part of the master planned, mixed-use park
known as University Center in Loudoun County, Virginia.
Project Facts:
Submarket
Route 28 North
Buildings2
Floors4
Net Rentable Area
204,128 SF
Year Built
2008
Brookdale Fund
Brookdale Investors Five, L.P.
Lakeview West Buildings
University Center Land
The University Center Land is a master-planned, mixed-use park consisting of office, hotel and
retail uses and future development sites.
Project Facts:
Submarket
Land Area
Remaining Land Area Date Acquired
Brookdale Fund
University Site Plan
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Route 28 North
60 acres
24.4 acres
12/2005
Brookdale Investors Five, L.P.
CURRENT INVESTMENT STRATEGY
Currently Targeted Investments
Although Brookdale will consider real estate
or real estate-related investments located
anywhere in the United States, the firm’s
current investment focus is on existing and
to-be-developed, CBD and suburban office
properties or portfolios located in the MidAtlantic, Southeast and Southwest regions of
the United States (the “Sunbelt”).
Current Geographic Focus
Brookdale has identified 14 Sunbelt cities as
those which are currently of primary interest to
the firm for investment purposes. Brookdale has
further identified 64 submarkets within those
14 cities where existing market conditions best
fit the firm’s Current Investment Criteria.
SunTrust Center
Orlando, Florida
Equity Capital and Debt
In the firm’s currently active investment fund,
Brookdale Investors Seven, L.P., Brookdale has
approximately $517 million of equity capital
which is available for immediate investment.
If debt is to be utilized in connection with an
investment, Brookdale will arrange such debt
at levels typically ranging from 50-65% of total
investment cost.
Brookdale Sunbelt Markets
Investment Structures
There are three primary investment structures
through which Brookdale is currently investing:
1. Outright acquisitions of existing individual
Sunbelt office properties or office portfolios.
2. Recapitalizations of office properties or
office portfolios through investments in joint
ventures or similar strategic relationships with
proven office developers/operators.
3. Joint ventures with proven office developers
for the purpose of developing one or more
new office buildings.
The Towers at Williams Square
Dallas, Texas
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CURRENT INVESTMENT CRITERIA
Targeted Property Types Existing Value-Add, Opportunistic or Core-Plus Office Portfolios or Single Assets, or To-Be-Developed Office Buildings in Select Sub-Markets
Geographic Preference CBD or Suburban
Submarkets in the
Mid-Atlantic, Southeast
and Southwest regions of the U.S.
Building Size
100,000 SF +
Building Attributes
Class A/B+
Multi-tenantable
Minimum Transaction Size $25 Million
Maximum Transaction Size $1 Billion
Leverage
0 - 65% of Investment Cost
Investment Structures Outright Acquisitions
Recapitalizations/Joint Ventures
Development Joint Ventures
Contacts
Dan Ethridge
Executive Vice President
404-364-8080
[email protected]
Robert Turner
Executive Vice President
404-364-8080
[email protected]
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CURRENT TARGET MARKETS
Brookdale has identified 14 Sunbelt cities which are of primary interest for investment
properties, and the firm has further identified 64 submarkets within those 14 cities where
existing market conditions best fit the firm’s current investment criteria.
Visit our website at www.BrookdaleGroup.com for
city maps of all Brookdale Target Submarkets.
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CONTACT INFORMATION
The Brookdale Group
Address
3455 Peachtree Rd., NE
Suite 650
Atlanta, GA 30326
Phone:
(404) 364-8080
Fax:
(404) 364-8099
Website:
www.BrookdaleGroup.com
The Brookdale Group is located
in The Pinnacle building, in the
Buckhead area of Atlanta, Georgia.
Peachtree/Lenox Vicinity
Atlanta, Georgia
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