Glenfield Capital unveils $150m real estate fund

Glenfield Capital, an Atlanta-based private real estate investment firm, has launched $150 million equity fund that targets office buildings in the Southeast and Midwest. The Glenfield Stabilized Income fund portfolio already includes 1.03 million square feet of space with a valuation of more than $200 million. The firm was founded in 2005.

PRESS RELEASE

ATLANTA (PRWEB) OCTOBER 26, 2021
Glenfield Capital is pleased to announce the launch of a $150 million equity fund that targets core-plus office buildings in the Southeast and Midwest.

More than half of the fund is already committed, and Glenfield Capital is actively fundraising and seeking additional assets that meet its narrow and disciplined criteria of well-leased office buildings in attractive suburban markets.

The Glenfield Stabilized Income fund portfolio already includes 1.03 million square feet of space with a valuation of more than $200 million. Together the assets are approximately 96% leased with a weighted average remaining lease term exceeding 9 years.

“We are bullish on the investment case for high quality office assets in desirable markets,” said James P. Cate, Managing Principal and Founder of Glenfield Capital. “We are confident that the noise and uncertainty about the future of in-person work is overstated and temporary. The Glenfield Stabilized Income fund is designed to capitalize on compelling core-plus opportunities that support our investment thesis.”

The Glenfield Stabilized Income fund launched in early October with three assets:
Timberlake Corporate Center — The 3-building campus is in the “wealth corridor” of western St. Louis has 351,532 square feet and is 100% leased to tenants including Centene Corporation, a publicly traded multi-national affordable healthcare provider that ranks among the 25 largest companies in America. Glenfield Capital bought the asset in September to coincide with the launch of the fund, and it is being leased and managed by Cushman & Wakefield.

One Federal Place — Widely considered the best-in-class office property in all of Birmingham, the 11-story Class A building has 300,041 square feet and a distinct facade of tinted glass and granite. It is 97% leased to tenants including Bradley Arant and PNC Bank. Glenfield Capital bought the asset in May and warehoused it until the fund launched, and it is being managed by Colliers and leased by Cushman & Wakefield/EGS.

Gramercy Woods — The 420,449 square foot building is on the south side of Jacksonville, which is driving dynamic growth for the region. It is 91% leased to tenants including CVS Health (formerly Aetna) and SS&C Technologies, a publicly held financial services software developer. Glenfield Capital bought the asset in 2019 and conveyed it into the fund upon launch. It is being managed by JLL and leased by Colliers.

ABOUT GLENFIELD CAPITAL
Glenfield Capital is a private real estate investment firm founded in 2005 by principals with a century of collective experience and more than $1.4 billion in advisory and principal activities. In 2021, the Atlanta-based company launched the Glenfield Stabilized Income Fund, a $150 million equity fund targeting core-plus office assets with reliable income streams and outsized risk-adjusted returns. Glenfield’s current portfolio includes assets totaling more than 1.5 million square feet in the Southeast and Midwest. Learn more at http://www.glenfieldcapital.com.