Rose Value-Add Office Retrofit Fund, L.P.

The Rose Value-Add Office Retrofit Fund seeks to provide superior, risk-adjusted returns (12-15% net IRR) through the acquisition, green renovation, and repositioning of well-located Class B office buildings in major U.S. cities (the Boston to Washington D.C. corridor, Chicago, Denver, Los Angeles, Portland, the San Francisco Bay Area, and Seattle). The Fund will focus on acquiring assets in “smart-growth” locations, with easy access to public transit, housing, services and amenities. It will target under-managed assets with in-place vacancy and unlock value through strategic capital improvements, aggressive leasing and re-branding, and hands-on asset management. As part of the repositioning of each asset, the Fund’s Manager will use high-impact, low-cost green technologies that can increase energy efficiency and tenant appeal, yield competitive paybacks, and drive long-term appreciation.

The Fund leverages Jonathan Rose Companies’ 20+ year track record and proven expertise in green building and real estate investing, and benefits from long-term economic and demographic trends driving demand for downtown, transit-oriented space.

Financial description

The Rose Value-Add Office Retrofit Fund seeks to provide superior, risk-adjusted returns (12-15% net IRR) through the acquisition, green renovation, and repositioning of well-located Class B office buildings in major U.S. cities (the Boston to Washington D.C. corridor, Chicago, Denver, Los Angeles, Portland, San Francisco, and Seattle).
The Fund will seek to acquire under-managed assets priced below replacement cost. It will target Class B properties with in-place vacancy and the potential for significant appreciation through well-executed capital and leasing programs. Additionally, the Fund will invest only in assets in “smart-growth” locations, with easy access to transit, housing, services and amenities, which can mitigate leasing and market risks. The Fund’s strategy will capitalize on the inherent benefits of Class B buildings, including these properties’ diverse, multi-tenant rent rolls; flexible, lower-cost space that is attractive to smaller businesses; and, often, historic architecture. Potential acquisitions will be diligently underwritten on conservative projections of future cash flow.
The Fund will seek to unlock value through strategic capital improvements, aggressive leasing and re-branding, and hands-on asset management. As part of the repositioning of each asset, the Fund’s Manager will use high-impact, low-cost green technologies that can increase energy efficiency and tenant appeal, yield competitive paybacks, and drive long-term appreciation.