{"id":1004156334,"date":"2016-10-21T04:04:08","date_gmt":"2016-10-21T12:04:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004156334"},"modified":"2020-05-21T03:38:41","modified_gmt":"2020-05-21T11:38:41","slug":"berkshire-group-invests-in-leggat-mccall-properties","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/berkshire-group-invests-in-leggat-mccall-properties\/","title":{"rendered":"Berkshire Group Invests in Leggat McCall Properties"},"content":{"rendered":"

By Gail Kalinoski<\/p>\n

\"Mahmood<\/a>

Mahmood Malihi, co-president, Leggat McCall Properties<\/p><\/div>\n

Boston\u2014<\/strong>Leggat McCall Properties<\/a>, already a longtime commercial real estate investor, developer and project manager in the Boston area, is growing thanks to an investment from a fund operated by The Berkshire Group<\/a>.<\/p>\n

Noting that Leggat McCall has been \u201can integral part of the Boston commercial real estate landscape\u201d for the past 50 years, Berkshire announced it had made an investment and committed funds from its BRV Partners Fund I LP, to the firm. Leggat McCall will use the funds to source and execute more than $1 billion of real estate investments in joint ventures with third-party institutional partners. Leggat McCall is focused on sourcing, financing and executing complex, mixed-use development and value-add investment opportunities in the Greater Boston area. It also provides advisory and project management services to large owners, users and investors.<\/p>\n

\u201cHaving Berkshire become our partner is a great step for our company,\u201d Mahmood Malihi, co-president of Leggat McCall Properties, said in a prepared statement. \u201cWe have built a great relationship with Berkshire principals through past dealings.\u201d<\/p>\n

Leggat McCall and Berkshire officials were not available to provide more details on the firms\u2019 previous relationships. However, Jason Grossman, managing director of venture investments for The Berkshire Group, noted in prepared remarks that the firm intended to help Leggat McCall \u201cgrow its principal investment activities and third-party advisory business\u201d and also tap into expanding CRE opportunities in the Boston area.<\/p>\n

\u201cWe believe that Greater Boston will continue to be an attractive market for real estate investment given its position as a world leader in higher education, healthcare, life sciences and high tech,\u201d Grossman said in a prepared statement. \u201cBy partnering with a Boston-centric firm with deep relationships in these industries and particular expertise in the local mixed-use development business, we anticipate being able to capitalize on attractive investment opportunities.\u201d<\/p>\n

Berkshire, which also has its headquarters in Boston, is a real estate investment management company primarily known for its multifamily investment and operational experience. The firm invests in opportunistic ventures in other real estate sectors through its Venture Investments group. It also has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco. As of June 30, Berkshire Group had approximately $7.2 billion in real estate assets under management.<\/p>\n

Last month, Berkshire announced a joint venture<\/a> to develop and strategically acquire senior housing communities in the western United States with Clearwater Senior Living. The JV\u2019s initial equity investment is expected to generate more than $500 million in gross asset value.<\/p>\n

Since 2001, Leggat McCall has been involved in projects totaling nearly $11 billion in development costs with over 30 of these projects costing more than $100 million each. The firm has a dominant presence in the rapidly growing higher education, healthcare and life sciences industries and regularly services many of the area\u2019s top universities, healthcare systems and biotech companies, including Harvard University<\/a>, Massachusetts Institute of Technology, Massachusetts General Hospital, Brigham & Women\u2019s Hospital<\/a> and Biomed Realty Trust<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company will use the funds to source and execute more than $1 billion of real estate investments in joint ventures with third-party institutional partners.<\/p>\n","protected":false},"author":1068,"featured_media":1004156339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21808,21825,21783,21742,10],"tags":[],"class_list":["post-1004156334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-featured","category-finance","category-investment","category-latest","category-northeast"],"acf":[],"yoast_head":"\nBerkshire Group Invests in Leggat McCall Properties - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/berkshire-group-invests-in-leggat-mccall-properties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Berkshire Group Invests in Leggat McCall Properties\" \/>\n<meta property=\"og:description\" content=\"The company will use the funds to source and execute more than $1 billion of real estate investments in joint ventures with third-party institutional partners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/berkshire-group-invests-in-leggat-mccall-properties\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-21T12:04:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-21T11:38:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/AG11-Leg-2447-Malihi-sitting-1-e1477050318792.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1780\" \/>\n\t<meta property=\"og:image:height\" content=\"1690\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/berkshire-group-invests-in-leggat-mccall-properties\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/berkshire-group-invests-in-leggat-mccall-properties\/\",\"name\":\"Berkshire Group Invests in Leggat McCall Properties - 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