February 1, 2017
Bridge Investment Group LLC (“Bridge”), together with its subsidiary, Bridge Office Fund Manager LLC (“Bridge Office Manager”), announced today the launch of a dedicated initiative to invest in value add commercial office assets in prime suburban submarkets. Building on Bridge’s deep industry expertise and multi-cycle track record as a seasoned owner/operator, Bridge Office Manager will focus on acquiring assets in select US markets that are projected to materially outperform national averages.
“Expanding office demand from employment growth, lack of new supply and an aging stock of existing inventory have created attractive opportunities to acquire quality office assets,” said John Ward, Chief Investment Officer of Bridge Office Manager. “Our investment strategy combines a disciplined asset selection process with a focus on operational improvements that increase tenant satisfaction and solve vacancy issues. We expect to acquire quality office assets at a substantial discount to replacement cost, meaningfully enhance the tenant experience through targeted incremental capital investment managed locally, and, as a result, drive NOI growth and returns for our investors.”
Robert Morse, Chairman of Bridge, commented, “Our office initiative continues Bridge’s strong track record of successful investing in the value-add space and complements the other specialized investment verticals of our platform. The office sector is particularly compelling: we have invested in 37 office assets (6.5mm square feet) in the last six years and achieved outstanding returns. The extensive Bridge ‘boots-on-the-ground’ operating network and unmatched closeness to our assets allows our team to address local tenant needs on a comprehensive basis and transform ordinary office properties into state of the art, modern, appealing workspaces that command premium market rents and high occupancies.”
Bridge Office Fund Manager
Bridge Office Manager’s senior management team averages 25 years of experience in the office sector and has been instrumental in the financing, acquisition, leasing and management of 274 properties in the US, completing ~$3 billion of office transactions in prior ventures. The investment team has substantial access to off-market deal flow and in three predecessor funds acquired assets at a 53% average discount to replacement cost. The majority of these transactions were sourced through Bridge’s longstanding industry relationships with asset owners and the brokerage community.
Bridge Investment Group
Bridge Investment Group is a privately held real estate investment management firm with $6.7 billion in assets under management. Bridge combines its 1,000-person, nationwide operating platform with specialized teams of investment professionals focused on select US real estate verticals, which Bridge believes offer above-market opportunity: Multifamily, Office, Seniors Housing, Affordable Housing and Debt Strategies.
Bridge principals are owners and operators who are deeply rooted in their assets. In-depth knowledge of local markets, as well as extensive real asset and capital markets expertise, enable Bridge to develop prolific deal flow and to deploy active asset management and monitoring across its business lines.
Bridge’s asset management strategy is specialized and focused in a way that emphasizes current income and capital appreciation while mitigating risk. By making improvements that build lasting communities, increase renter satisfaction, and ultimately bring value to investors, Bridge “creates alpha” at the asset level.
The principals of Bridge have been investing in and improving communities around the US since 1991 and manage private equity funds, separately managed vehicles, co-investments, and joint ventures. Woven and intertwined with its buildings, people, and communities, Bridge transforms assets in a manner that maximizes their potential across all dimensions.
Contact: Dean Allara
Vice Chairman, Bridge
+1 (650) 579-1350