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Brookwood Bets on a Florida Rebound
Brookwood Value Partners, an affiliate of Brookwood Financial Partners, acquired the residential lots in Southwest Florida planned community The Grove.
August 1, 2008
Brookwood Value Partners, an affiliate of Brookwood Financial Partners, acquired the residential lots in Southwest Florida planned community The Grove. The deal represents the firm’s first purchase of finished residential lots.
“We believe that the strong demographic trends exhibited in Southwest Florida prior to the housing downturn will reemerge once the current credit crisis eases,” Thomas W. Brown, director of Acquisitions for Brookwood, said in a statement. “We are primarily targeting finished lots with planned housing at price points that will appeal to a broad segment of the potential end users, as these properties will be the first in demand once the housing market turns.”
Massachusetts-based Brookwood invests in real estate throughout the US, targeting office, retail and research and development space, as well as hotels, condos and apartment units.
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