Berkshire, Strategic Form $500M JV

BOSTON—Berkshire Group, headquartered here, and Strategic Capital Partners said Thursday that they had partnered on a joint venture to develop and acquire a portfolio of industrial, office and mixed-use properties in targeted markets across the Southeast, Mid-Atlantic and Midwest. The new venture expects to build a portfolio of approximately $500 million in gross asset value via JVs with third-party institutional investors.

“A partnership with Berkshire Group represents a significant step for our company, and we look forward to scaling our platform together,” says Richard Horn, managing partner of Indianapolis-based SCP. At Berkshire, Larry Elman, managing director and CIO/venture investments, says 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.”