Berkshire fund holds final close

The Berkshire Group announced the closing of BRV Partners Fund I on June 2. The fund raised $161.5 million, according to a statement.

The fund invests in REOCs and currently has two active platforms: a hotel investment company in partnership with Lodging Capital Partners and a fully integrated senior housing development and management business in partnership with LCB Senior Living.

“BRV Partners Fund I focuses on real estate operating companies with high-quality management teams that are experts in their regions and sectors,” said Larry Ellman, managing director, head of venture investments, in a statement.

According to the statement, “the fund plans to invest across additional platforms targeting operators in the West Coast senior housing, self-storage, retail, office, industrial, medical office and mixed-use development sectors with experienced teams and strong deal flow.”