World News: 18:12 GMT Wednesday 12th June 2019. [Drawbridge Realty Management via Businesswire via SPi World News]
Drawbridge Realty Management, a San Francisco-based real estate investment company, announced today that it has secured new equity commitments of $240 million. This commitment provides Drawbridge with discretionary capital to acquire $600 million of additional properties and increase its total asset base to over $1.6 billion.
“We are delighted to have this growing support and commitment from the institutional investment community, particularly at a time when we are seeing numerous opportunities throughout the U.S. that align with Drawbridge’s investment strategy,” said Mark Whiting, Drawbridge Chairman and Chief Executive Officer.
Targeting commercial property investments in select growth markets across the U.S., Drawbridge is a sophisticated acquirer of short- and long-term leased, single-tenant office and R&D buildings. The firm also builds and redevelops properties that are well-positioned for leasing to large corporate tenants. Drawbridge’s current portfolio is comprised of 42 properties totaling over 4.4 million square feet.
Drawbridge is an independent real estate investment platform with the financial backing of leading global investment firm KKR, which played an important role in procuring the new capital.
“We are thrilled to continue to invest behind Drawbridge, alongside others, as the Company builds on its impressive track record of acquiring and managing high-quality corporate properties,” said Billy Butcher, KKR’s Chief Operating Officer of Global Real Estate, who is also on the Drawbridge Board of Directors.
ABOUT DRAWBRIDGE REALTY MANAGEMENT:
Drawbridge is a San Francisco-based real estate investment company that targets commercial property investments in growth markets across the U.S. Its portfolio primarily consists of office properties leased long-term to large corporations, with an emphasis on strategically important locations. Drawbridge has a long history of successfully creating value for corporate clients and investors, and has completed transactions with companies including Bayer, Broadcom, IBM, Google, Johnson & Johnson, L-3 Technologies, Lockheed Martin, Medtronic, National Instruments, and Northrop Grumman. For more information, please visit: www.drawbridgerealtytrust.com.
Photo Available via E-mail
Business Wire: 18:12 GMT Wednesday 12th June 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.