ORANGE COUNTY, CA—Bridgeport Investments, an Orange County-based real estate investment banking and advisory firm, has successfully secured two equity financing commitments totaling $45 million on behalf of its clients. Bridgeport secured $35 million in equity financing on behalf of CapRock Partners to fund several future acquisitions of industrial properties in California, and $10 million in equity financing on behalf of Peninsula Retail Partners to fund various retail development opportunities, according to Randy Bramel, Founding Principal of Bridgeport Investments.
“Equity commitments of this size and nature are not that common in the current Orange County market,” says Bramel. “It takes a strong real estate operator with a focused niche strategy to attract such capital.”
According to Bramel, Bridgeport was able to identify and secure these new commitments in part due to the ongoing relationship the firm builds with its clients.
“Because our firm functions more like a venture capital partner with our clients, we are able to utilize our industry expertise not only to raise capital, but also to provide strategic counsel on business, financial, and investment matters,” he says. “For that reason, we have a deeper understanding of our clients' capabilities, goals and strategy, and are in a position to work with them to identify the ideal time to move forward in securing financing of this nature.”
Details on Bridgeport Investments' recent equity financing commitments include:
$35 Million To Fund Industrial Acquisitions
Bridgeport Investments raised a $35 million equity commitment from an institutional investor on behalf of CapRock Partners, a private investment firm headquartered in Irvine, Calif. This is the third equity commitment that Bridgeport has raised for CapRock since 2011. CapRock will use the additional funds to acquire industrial properties in California, which may include buildings, land, or non-performing loans.
$10 Million To Fund Retail Development
Bridgeport Investments also secured a $10 million equity commitment from a private family office on behalf of Peninsula Retail Partners, a private retail development firm headquartered in Newport Beach.
“This financing allows Peninsula Retail Partners to focus on what they do best, which is maximizing the value of development opportunities, while also providing the investor with a strategic relationship in the recovering retail development market,” explains Bramel.
According to Bramel, the capital provider is willing to look at various types of retail developments, from single tenant ground leases to new shopping center construction. The capital provider is also willing to participate in obtaining construction financing.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
