
Beacon Capital Closes $1.6B Office Fund
Boston-based Beacon Capital Partners, LLC held its final close on Beacon Capital Strategic Partners 8, L.P. (BCSP 8). The commingled value-add office investment fund has equity commitments totaling $1.58 billion, plus an additional $220 million of initial investor-approved co-investment equity.
Beacon’s strategy is to acquire underperforming office assets in major U.S. markets, and transform them through significant capital improvements and leasing.
Beacon Capital Partners’ Fred Seigel says, “The first four assets – in Chicago, Glendale, San Jose, and Washington, D.C. – present meaningful opportunities for us to leverage our deep experience and robust operating platform on behalf of our investors.”
The capital raised for BCSP 8 surpassed the $1.25 billion target for the fund, with commitments coming from a combination of repeat and new investors, including major U.S. pensions, foreign pensions, sovereign wealth funds, financial institutions, endowments, and foundations.
*Pictured 200 State Street in Boston, Beacon Capital Partners’ HQ
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