Strategic Capital Partners and the Berkshire Group have announced a joint venture to develop and acquire a portfolio of industrial, office and mixed-use properties. The new venture expects to build a $500 million portfolio by targeting properties targeted in the Southeast, Mid-Atlantic and Midwest markets. The venture closed on its first three assets in December 2015, including two office development sites in Raleigh, North Carolina, and one business park acquisition in Northern Virginia.
“We are excited to partner with Strategic Capital Partners and look forward to building a high quality portfolio together over the next several years,” stated Larry Elman, Berkshire Group Managing Director, Chief Investment Officer/Venture Investments. “Working with SCP will allow us to enter the office and industrial sectors in some attractive markets in strategic regions alongside a highly experienced operating team.”
