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McCarthy Cook, Charlesbank Target West Coast

LOS ANGELES-A locally-based real estate investment and management company teams up with a Boston-based realty fund to make office investments in the Western United States. The pair hopes to acquire at least $200 million in assets per year.

By Gina Binole | Updated on June 12, 2002

LOS ANGELES-McCarthy Cook & Co. and Charlesbank Realty fund have formed a joint venture, McCarthy Cook Investors III, which will target office and mixed-use properties, debt secured by office properties and other office-related investments.

The new venture will focus primarily in California, but also in the major markets of Arizona, Washington, Oregon and Colorado. The partnership expects to begin investing immediately and will selectively afford investment opportunities to other institutional investors. This venture follows McCarthy Cook’s two previous successful institutional joint ventures.

Edward Cook, an investment partner in McCarthy Cook, says Charlesbank provides his firm the opportunity to invest in a broad range of properties, from stabilized trophy office buildings to new development. “Our goal with Charlesbank will be to acquire at least $200 million in assets per year,” he says. “To do that successfully, we will be reviewing many different opportunities over a large geographic area, but with a specific focus on California.”

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