Rockwood Capital Real Estate Partners Fund VIII closes with $964 million in capital commitments

According to Rockwood Capital, LLC, the private real estate investment company, it has closed Rockwood Capital Real Estate Partners Fund VIII, L.P. (Fund VIII) with approximately $964 million in capital commitments. The value-added fund will primarily invest in hotel, retail, office and residential properties, in the U.S. Fund VIII has a diverse investor base consisting of public and private pension funds, foundations and endowments, insurance companies, and high net worth individuals. More than half of the Fund VIII investors have also invested in previous Rockwood funds, and, for the first time, the new fund includes commitments from foreign institutions, including pension plans from Switzerland. Fund VIII will employ Rockwood's proven strategy of capitalizing on unique supply/demand imbalances within markets and property sectors to create value. The firm will target assets in quality settings and surroundings and will increasingly emphasize mixed-use environments that bring work, housing and amenities closer together. Rockwood will continue to work with strong, experienced local partners within the major knowledge-based and supply constrained markets where it has depth and breadth: Boston, New York City, Metro-Washington D.C., Los Angeles, the San Francisco Bay area, and southern Florida. "We are extremely pleased to close Fund VIII with such strong support from our recurring investors. We are grateful for their continued confidence in our ability to execute on our proven investment strategy," said Sharon Ann Miller, managing director. "We are also delighted to begin relationships with our new LPs and look forward to working with them to add value to their existing investment portfolios by successfully investing Fund VIII." "Despite today's unsettled real estate environment, we believe that we are heading into what could be the best investment period in the last 20 years," said Tyson Skillings, Fund VIII's portfolio manager. "We are actively analyzing our target markets to ensure that we understand the critical trends and key drivers and that we have identified the best-in-class operators/owners/developers so that as the market recovers, we are well-positioned to take advantage of the opportunities produced from the current depressed conditions." Rockwood Capital, LLC is a private real estate investment company which provides equity capital combined with real estate expertise for repositioning, recapitalization, development and redevelopment of commercial property types, including retail, hotel, residential, office, research and development, and data center space in key markets throughout the United States. Since 1980, Rockwood and its principals have invested on behalf of their investors over $3.1 billion of equity in over $9.3 billion of real estate through seven commingled funds and various special purpose partnerships. With offices in San Francisco, White Plains and Los Angeles, Rockwood currently manages a portfolio of about $2.85 billion of equity invested in $6.2 billion of real estate. Rockwood's investors include public and private pension funds, endowments, foundations, insurance companies, institutions and high net worth individuals.