{"id":1004579272,"date":"2022-05-05T02:03:00","date_gmt":"2022-05-05T10:03:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004579272"},"modified":"2022-12-08T16:16:32","modified_gmt":"2022-12-09T00:16:32","slug":"colliers-to-buy-majority-stake-in-rockwood-capital","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/","title":{"rendered":"Colliers to Buy Majority Stake in Rockwood Capital"},"content":{"rendered":"
\"\"<\/a>

Image by ccfb via Pixabay<\/p><\/div>\n

CRE services powerhouse Colliers<\/strong> has entered into a definitive agreement to acquire a 65 percent stake in Rockwood Capital<\/strong> LLC, a U.S. real estate investment management firm with more than $12 billion of assets under management.<\/p>\n

The deal is subject to customary closing conditions and approvals and is expected to close in the third quarter. Financial terms were not disclosed.<\/p>\n

The balance of Rockwood\u2019s equity will be retained by the company\u2019s senior leadership team, who will continue to lead the business under the \u201cperpetual partnership\u201d model with Colliers. On completion of the transaction, Colliers expects the annual run rate of management fee revenue to be between $70 million and $75 million, with \u201csignificantly accretive\u201d operating results.<\/p>\n

\n

READ ALSO<\/strong>: Office Sector Makes Headway in Texas<\/a><\/p>\n

\n

Rockwood engages in equity and credit investments across multifamily, office, mixed-use, life science, hospitality and retail properties across North America and invests across the capital stack through a series of closed-end value-add, core\/core-plus, credit and long-term development vehicles.<\/p>\n

In a prepared statement, Zach Michaud, Colliers\u2019 co-chief investment officer, said the partnership will expand the company\u2019s operations in the U.S. and add several new asset classes and strategies, \u201cincluding excellent capabilities in the rapidly growing real estate credit space.\u201d<\/p>\n

Colliers Chairman & CEO Jay Hennick added that the investment in Rockwood demonstrates the company\u2019s continued focus on building scale, noting that Colliers will have a combined $77 billion in assets under management once all announced transactions are completed.<\/p>\n

David Becker, a Rockwood managing partner, highlighted Colliers\u2019 \u201cdecentralized operating model, significant inside ownership, and impressive performance over many years\u201d as helping to motivate the deal.<\/p>\n

Berkshire Global Advisors<\/strong> was financial advisor and Kirkland & Ellis<\/strong> was legal advisor to Rockwood. Sidley Austin<\/strong> was Colliers\u2019 legal advisor.<\/p>\n

The spice of life<\/h2>\n

A couple of recent transactions illustrate Rockwood\u2019s eclectic appetite.<\/p>\n

Last September, Rockwood acquired<\/a> a three-building, 148,500-square-foot Class B office campus in metro Seattle for $84.1 million. The seller of the 9-acre property in Bellevue, Wash., was Principal Real Estate Investors<\/strong>, of Des Moines.<\/p>\n

Late last year, Rockwood also bought<\/a> a 49 percent stake in a trophy office property at 655 New York Ave. NW in Washington, D.C. The 756,000-square-foot asset was recapitalized by owners Douglas Development<\/strong> and a Brookfield Asset Management<\/strong> fund. Financials were not disclosed.<\/p>\n","protected":false},"excerpt":{"rendered":"

The service powerhouse will add multiple asset classes and strategies to its capabilities.<\/p>\n","protected":false},"author":882,"featured_media":1004566771,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21783,23891,21742],"tags":[36720,35498,32839,34245],"class_list":["post-1004579272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-investment","category-national","category-latest","tag-berkshire-group","tag-colliers","tag-rockwood-capital-llc","tag-sidley-austin-llp"],"acf":[],"yoast_head":"\nColliers to Buy Majority Stake in Rockwood Capital - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Colliers is buying a 65 percent stake in Rockwood Capital LLC, a real estate investment management firm with more than $12 billion of AUM.\" \/>\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\/colliers-to-buy-majority-stake-in-rockwood-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Colliers to Buy Majority Stake in Rockwood Capital\" \/>\n<meta property=\"og:description\" content=\"Colliers is buying a 65 percent stake in Rockwood Capital LLC, a real estate investment management firm with more than $12 billion of AUM.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/\" \/>\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=\"2022-05-05T10:03:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:16:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/colliers-to-buy-majority-stake-in-rockwood-capital\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/\",\"name\":\"Colliers to Buy Majority Stake in Rockwood Capital - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg\",\"datePublished\":\"2022-05-05T10:03:00+00:00\",\"dateModified\":\"2022-12-09T00:16:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Colliers is buying a 65 percent stake in Rockwood Capital LLC, a real estate investment management firm with more than $12 billion of AUM.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg\",\"width\":800,\"height\":600,\"caption\":\"Image by ccfb via Pixabay\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Colliers to Buy Majority Stake in Rockwood Capital\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Colliers to Buy Majority Stake in Rockwood Capital - Commercial Property Executive","description":"Colliers is buying a 65 percent stake in Rockwood Capital LLC, a real estate investment management firm with more than $12 billion of AUM.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/","og_locale":"en_US","og_type":"article","og_title":"Colliers to Buy Majority Stake in Rockwood Capital","og_description":"Colliers is buying a 65 percent stake in Rockwood Capital LLC, a real estate investment management firm with more than $12 billion of AUM.","og_url":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-05-05T10:03:00+00:00","article_modified_time":"2022-12-09T00:16:32+00:00","og_image":[{"width":800,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/","url":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/","name":"Colliers to Buy Majority Stake in Rockwood Capital - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg","datePublished":"2022-05-05T10:03:00+00:00","dateModified":"2022-12-09T00:16:32+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"description":"Colliers is buying a 65 percent stake in Rockwood Capital LLC, a real estate investment management firm with more than $12 billion of AUM.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg","width":800,"height":600,"caption":"Image by ccfb via Pixabay"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/colliers-to-buy-majority-stake-in-rockwood-capital\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Colliers to Buy Majority Stake in Rockwood Capital"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Image-by-ccfb-via-PixaBey-e1648137397532.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004579272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004579272"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004579272\/revisions"}],"predecessor-version":[{"id":1004579476,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004579272\/revisions\/1004579476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004566771"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004579272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004579272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004579272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}