Bradford Commercial Real Estate Services has fully funded Bradford Opportunity Fund II, which will be used to acquire up to $100 million of commercial assets throughout North Texas.
The fund will target value-add properties that are emerging from current capital market challenges, the company said in a news release.
“Our rescue capital program is in full bloom,” said Kevin J. Santaularia, president and CEO of Dallas-based Bradford, a full-service brokerage, property management and investment firm that has offices in Fort Worth. “The current high interest rate environment has lenders locked up and owners needing to trade out of assets with financing issues. Therein lies the opportunity for Bradford and our private investor partners.”
Bradford Property Company Inc. is the manager and general partner of its funds, which are focused on the acquisition of office and industrial projects throughout the DFW region. With leverage, Bradford Opportunity Funds have the capability of acquiring more than $100 million of commercial assets annually, the release said.
“Our funds are designed to give high net-worth investors access to uncommon opportunities that are historically only accessible to ‘in-the-know’ local real estate investors like Bradford,” Santaularia said.
Since its inception in 1989, Bradford has sold in excess of 140 million square feet of commercial and industrial properties in the Metroplex. The company has previously invested in 5 million square feet, valued at more than $250 million with multiple investment partners. Bradford manages at least 15 million square feet in North Texas for major institutions, lenders, pension fund advisers and entrepreneurial investors.
“We feel that the capitulation in the market will drive rare opportunities for local, nimble investors in this new era of asset valuation resets, which are resulting from higher interest and cap rates,” Santaularia said.