Berkadia today announced that it has arranged a strategic partnership between Monday Properties, an owner, operator, and industry-leading developer of commercial and residential real estate in highly targeted, supply constrained markets, and private equity firm FrontRange Capital Partners LLC of Denver, Colorado.
Berkadia’s Joint Venture Equity and Structured Capital Group, led by Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick, arranged a $50 million growth capital investment from FrontRange. The partnership is the latest in a series of moves by Monday Properties to accelerate growth in the company’s current core markets, while also fueling investments in high-quality projects in emerging submarkets.
“Despite a challenging environment, we continue to see a wide range of investment opportunities that fit into our overall, forward-looking business platform. Following our recent Shirlington Tower acquisition in Northern Virginia, as well as the construction and opening of several multifamily projects, we remain in growth mode,” said Adam Carr, Senior Vice President of Acquisitions and Investment Management at Monday Properties. “The infusion of capital through this new partnership with FrontRange positions our venture to execute on deals efficiently as opportunities present themselves.”
“We are excited to partner with Monday Properties, whose demonstrated investment and management acumen over the past 20 years has produced a successful, long-term track record,” said David Robertson, CEO of FrontRange Capital Partners. “Our partnership was facilitated by our shared view of the significant growth potential that exists in Monday’s target markets, and the management team’s proven ability to identify and execute on compelling acquisition and development opportunities. We look forward to being a part of this next phase of growth for the company.”