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Fund Seeks $700M of Office Product

NEW YORK CITY-In its first discretionary fund, Broadway Partners will have the capacity to leverage up to $700 million in office assets over the next few years. The fund will target offices in primary markets across the nation.

By Barbara Jarvie | Updated on September 27, 2005

(To read more on the debt and equity markets, click here.)

NEW YORK CITY-Locally based Broadway Real Estate Partners closed on its first discretionary fund–a $210-million private equity fund–which has the ability to leverage up to $700 million in investment opportunities over the next several years. Charles Millard, managing director for Broadway, says the firm tends to focus on “high-quality assets in primary markets.” He adds that three investments have been made and will be announced within the next week or so.

Investors include domestic and international institutions as well as high net worth individuals and families, many of whom had invested with Broadway previously. “It took nine months to raise money for the fund, which is actually a very good turnaround for a first-time fund,” Millard points out.

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