August 14, 2015 [Philadelphia, PA] – Brookwood Financial Partners, LLC (“Brookwood”), a leading real estate investment and management company, has selected Colliers International to manage the leasing of their recently acquired Philadelphia Suburban office market portfolio. Brookwood purchased a 29 building portfolio (the “Portfolio”) totaling more than 1.6 million square feet from Brandywine Realty Trust. The properties are located in Fort Washington, Horsham, Bensalem, and Allentown, Pennsylvania. Colliers will handle leasing for 19 buildings, consisting of more than 900,000 SF in Fort Washington, Horsham and Bensalem.
Consistent with their ongoing value-add strategy, Brookwood plans to invest $7.6 million in targeted capital improvements to the Portfolio, including: significantly improving building lobbies, common areas and restrooms; upgrading landscaping; refreshing building exteriors and entrances; replacing building roofs; and modernizing elevators. In addition to these building improvements, Brookwood will be constructing speculative suites with amenities that will increase the Portfolio’s appeal. The Portfolio will also be able to accommodate both large and small tenants as it contains a variety of office buildings and suite sizes, ranging from single-tenant office and flex space to multi-tenant, multi-story Class A office space.
“The Philadelphia area office market is in the early stages of its real estate recovery, providing Brookwood and its investors with a value-add opportunity that is increasingly difficult to find in major primary markets such as New York, Boston, Chicago, San Francisco and Washington D.C.,” stated Thomas W. Brown, Brookwood’s President and Director of Real Estate Acquisitions. “We were able to acquire this Portfolio for a substantial discount to replacement cost in a market that has experienced positive absorption in 14 out of the last 18 quarters. Given our low cost basis and strong capitalization, we will be able to offer attractive rental rates and full tenant improvement packages to tenants in the market that are looking for high-quality space at a competitive price,” he added.
“We are very excited by the opportunity to work with the Brookwood team on assets in Fort Washington, Horsham and Bensalem,” said John Susanin, Senior Vice President - Colliers International. “This portfolio of properties is very appealing to tenants that require quality space, competitive leasing rates, high parking ratios and easy access to major highways.”
The Colliers International team of John Susanin and Kyle Hilbert will oversee leasing for the Fort Washington and Horsham properties and the Colliers team of Matthew Shanahan and Amanda Montemuro will oversee leasing for the Bensalem properties.
Brookwood Financial Partners, LLC
About Brookwood Financial Partners, LLC is a Massachusetts-based private investment firm founded in 1993 that specializes in acquiring and managing commercial real estate and corporate securities on behalf of a select group of institutional and high net worth investors, family offices and trusts. Since its inception, Brookwood has invested over $780 million of equity to acquire a portfolio of 187 assets with a realized and unrealized value of $2.2 billion that has spanned multiple asset classes, geographical markets and industries across the United States.