Equity Commitments Allow Expanded Portfolio and Increased Asset Base
Drawbridge Realty Management, a San Francisco-based real estate investment company, has secured new equity commitments of $240 million.
SAN FRANCISCO—Drawbridge Realty Management, a San Francisco-based real estate investment company, has secured new equity commitments of $240 million. This provides Drawbridge with discretionary capital to acquire $600 million of additional properties and increase its total asset base to more than $1.6 billion.
“We are delighted to have this growing support and commitment from the institutional investment community, particularly at a time when we are seeing numerous opportunities throughout the US that align with Drawbridge’s investment strategy,” said Mark Whiting, Drawbridge chairman and chief executive officer.
Targeting commercial property investments in select US growth markets, Drawbridge is an acquirer of short- and long-term leased, single-tenant office and R&D buildings. The firm also builds and redevelops properties that are well positioned for leasing to large corporate tenants.
Drawbridge’s current portfolio is comprised of 42 properties totaling more than 4.4 million square feet. Drawbridge is an independent real estate investment platform with the financial backing of global investment firm KKR, which played an important role in procuring the new capital.