In 2002, EDGE’s principals founded RKB Washington Property Fund, a U.S. based closed-end real estate investment fund (“RKB”). RKB was co-sponsored with Dresdner and Kleinwort Benson Private Banks; and additional placing agents included UBS, EFG and Knight Frank. RKB acquired 20 office buildings consisting of approximately 1.7 million square feet with a total estimated value of $450 million.
The RKB strategy focused on acquiring substantially-leased institutional-grade office properties that (i) required minimal capital improvements, (ii) were located in well-established submarkets of Greater Washington, D.C. that possess substantial commercial infrastructure and are accessible to major transportation networks; (iii) were in excess of 75,000 net rentable square feet, (iv) had been built or renovated in the past 10 years; and (v) exhibited achieve high values and investment growth through the implementation of repositioning strategies and re-leasing and marketing plans.
|1.7 Million||square feet of office buildings owned and managed|
|$100+ million||equity raised|
|12%||average dividend return|
|35.9%||Estimated IRR (before tax)|