DETROIT and PORTLAND, Maine, Oct. 20, 2017 (GLOBE NEWSWIRE) -- Bloomfield Capital and VAR Capital Advisors today announced that the companies have entered into an agreement under which Bloomfield will acquire the consulting platform and key leadership from VAR, and Renee Lewis, founder of VAR Capital, will be named a Managing Partner of Bloomfield.
Bloomfield Capital is a real estate private equity firm focused on investing in opportunistic and special situation debt and equity transactions. Since 2008, Bloomfield has deployed over $500 million in capital across nearly 30 states. The firm manages three institutional private-equity investment funds with over $180 Million in assets under management (AUM) as of September 30, 2017.
VAR Capital Advisors specializes in due diligence, asset management, and consulting services for institutional real estate investors nationwide. The agreement was formed in order to augment Bloomfield’s existing platform with additional industry-leading talent as the firm grows its operations nationwide.
Acquisition discussions began in response to Bloomfield’s significant growth. Over the past two years, Bloomfield has opened offices in Denver, CO and Greenwich, CT with the goal of adding geographic diversification to its platform and investments. Acquiring the team at VAR will further enhance Bloomfield’s geographical expertise, and includes the establishment of its newest office in Portland, Maine.
“For many years, VAR Capital has been a trusted friend and advisor,” commented Nicholas Coburn, Founder and Managing Partner of Bloomfield Capital. “Their familiarity with our business and significant experience in diligence, asset management, and debt acquisition, makes their team a synergistic addition to Bloomfield’s growing platform.”
“We’re excited to be joining the talented team at Bloomfield Capital and to be part of the firm’s growth as a lender and investor,” said Renee Lewis. “We look forward to working together with Bloomfield’s management team, maintaining operations in Portland, and continuing to lead the industry with this partnership."
VAR Capital Advisors will retain its consulting business, serving institutional clients as it has since its inception in 2014.
About Bloomfield Capital Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Greenwich, and Portland, Maine. Bloomfield Capital's team draws from a broad base of commercial real estate and finance experience. The firm provides debt and equity solutions to meet the demands of time sensitive and complex transactions. Bloomfield Capital invests in commercial real estate through the origination or acquisition of high-yield credit opportunities and select joint-venture equity investments in the $1-20 million range.
Bloomfield Capital Contact: Alaina Korreck Marketing Director 248-745-1700 alaina@bloomfieldcapital.com
