Broe Real Estate Group targets distressed properties with $250m fund
Broe Real Estate Group unveiled a $250m fund called Strategic Investments Program that will target commercial real estate properties that are having difficulties with cash flow. The fund will come up with the funds needed by office, industrial, hospitality and retail properties that have been negatively impacted by the Covid-19 pandemic. Deals should typically range between $20m and $100m, with the lowest transaction size set at $10m. " Broe’s Strategic Investments Program provides vital rescue capital solutions to stabilize properties and partnerships that find themselves experiencing liquidity issues," it wrote in a statement. The fund is counting on years of collective experience in the field to allow it to move quickly enough to help foundering assets. These assets can either be existing, income producing properties or projects that are still in the development or construction phase.