History
Benchmark beating returns across market cycles
1978
Investment
Start of investment in recovering northeast markets, focusing on office properties with increasing tenant demand and below replacement cost pricing.
1987
Sale
Sale of Northeast investments at the height of the region’s economic and real estate cycle.
1989
Investment
Start of investment in Texas’ severely depressed energy-based economy, burdened with over-supply of office real estate.
1994
Sale
Start of investment in Mexico after the passage of NAFTA, as one of the first North American developers to enter the country.
1997
Sale
Sale of Texas investments at the height of the region’s boom.
2006-2013
Sale
Sale of Mexico investments to U.S. institutions at significantly compressed capitalization rates.
2015
Investment
Start of multifamily investment fund, Cambridge I, with a focus on value-add and ground-up development.
2017-2019
Sale
Sale of Cambridge I, returning an 18.4% gross IRR. Cambridge II raised.
2020
Investment
Cambridge II equity fully invested, Cambridge III raised.
2022
Sale
Sale of last Cambridge II properties, returning an 18.6% gross IRR.
2023
Investment
Cambridge III equity fully invested. Cambridge IV raised.
