September 26, 2019
The Carlton Group arranged a $455-million recapitalization of Brookwood Financial’s suburban office portfolio. The portfolio comprises 27 office properties near major metropolitan areas in the Northeast Corridor, Florida, Texas and California, totaling more than 4.3 million square feet.
JPMorgan Chase provided the debt financing Beverly, MA-based Brookwood utilized to recapitalize an existing loan, using part of the proceeds to buy out minority partners. Brookwood raised its own equity to complete the transaction.
“Brookwood Financial is an innovative real estate investor that wanted to move quickly to optimize its position within more than two dozen investments across the country ahead of changing market dynamics,” said Carlton Group CEO Michael Campbell. “We were able to work closely with the sponsor’s team and JPMorgan Chase to structure a single transaction that allows Brookwood to buy out partners and gain maximum return on investment over the long term for wide range of office properties.”
Pictured: Michael Campbell.
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