role in working with the company’s management team to provide guidance and input on strategic direction and operational oversight. Through well-targeted dispositions, acquisitions, and significant development activity, the company transitioned from an older, suburban profile to a younger, modern, more efficient portfolio with a well-balanced mix of suburban/urban properties. The successful strategy also lowered the average age of the portfolio to 8.9 years, which was significantly younger than the publicly traded REIT peer group average of 24 years. During the investment holding period the company’s gross market cap increased from $2.1 billion to $4.8 billion. CSCM ultimately advised its client on a streamlined and highly advantageous exit, realizing a total return in excess of the NCREIF multifamily index over the same time period. The entity level investment and eventual disposition allowed CSCM’s client to take advantage of a significant franchise value and portfolio premium in excess of portfolio NAV, and at a lower overall fee structure than available in traditional investing formats.

The Property was constructed in 2009 as a “100-Year” building to LEED Gold standards (core and shell) to meet the operating requirements of the most demanding healthcare and research laboratory tenants. The Property contains eight levels of medical office and laboratory space above a five level (one below grade) parking structure, as well as abundant medical mechanical space.

On behalf of its sovereign wealth fund client, CSCM structured and formed a highly accretive single-asset private REIT for the initial years of ownership. CSCM then managed the streamlined close-out of the REIT, resulting in the client’s 100% ownership of the asset which continues today under CSCM management in a separately managed account.

The programmatic joint venture structure afforded the client the ability to access the pipeline and network of the operating partner, while retaining control rights and discretion over major decisions.

In addition to the aforementioned joint venture program, CSCM has also directly managed core industrial properties within a separately managed account on behalf of another institutional client.

Aiming to capitalize on the continued low cap rate environment, and investor focus towards well-located suburban properties to enhance returns over core, urban offerings, CSCM executed the successful disposition of the suburban office assets. The asset sales closed out a long-standing institutional separate account with a multi-employer pension fund. CSCM continues to serve as the pension fund’s overall real estate advisor, reporting directly to the Board of Trustees.