Offices
Brickman has invested over $580 million in 40 office transactions, of which 12 have been realized for a weighted average IRR of 31.66%. The office property markets are driven by employment levels on the revenue side and by the cost and amount of debt and equity capital. Brickman will be focusing on office properties in the major coastal markets. While these markets are generally more competitive they also offer more liquidity upon exit. We view office product as having the best opportunities due to the capital-intensive nature of the asset (thus resulting in "stress" and opportunities) as well as having some current cash flow and downside protection.