Overview

Rubenstein Partners is a fully integrated real estate investment firm providing first-class investment services, as a Registered Investment Advisor, in office markets throughout the Eastern United States.We believe in superior results through specialization and therefore focus on a single asset class (office), a single segment of the risk spectrum (value-added), and a specific geography (the Eastern United States). Our goal is to consistently generate outsized risk-adjusted returns for our clients through a variety of skills including creative acquisitions, “hands on” asset management, entrepreneurial repositionings, and timely dispositions. These investments are structured across the real estate capital stack; however, we typically focus on traditional, controlling investments both with and without local operating partners.

We currently manage two fully discretionary closed-end funds — Rubenstein Properties Fund I, a $475 million private equity fund closed in 2006, and Rubenstein Properties Fund II, a $515 million private equity fund that is in its investment period — as well as some legacy assets related to the firm’s predecessor company.

History

Rubenstein Partners was founded in 2005 after the predecessor company was disposed of in 2004.The predecessor company to Rubenstein Partners comprised a vertically integrated platform focusing on commercial office in the Eastern United States which, at its peak, was one of the largest private investors in office real estate in the Mid-Atlantic by square footage. After liquidating, David Rubenstein and several other key members of the former senior management team formed Rubenstein Partners which closed on its first fund in May 2006. Since then, Rubenstein Partners has become a Registered Investment Advisor with established offices in Boston, New York, New Jersey, Philadelphia, Washington, DC and Atlanta.

Approach

Rubenstein Partners primarily focuses on complex office real estate investments, including assets requiring major redevelopment or recapitalization.As a result of our history as a vertically-integrated operator, our management team possesses an extensive real estate background across a variety of disciplines, including redevelopment and construction, property management, operations and engineering, leasing, asset management, transactions, legal and accounting.  We therefore target complex investments that enable us to utilize our in-house expertise to mitigate real estate risk while simultaneously maintaining the outsized returns associated with such complex transactions, resulting in the attractive risk/return proposition we offer to our investors.  These outsized risk-adjusted returns are a result of our ability to create alpha through a combination of creative acquisitions, “hands-on” asset management, entrepreneurial repositionings and timely dispositions.

Our depth enables us to directly operate properties acquired by our private equity funds; however, we typically joint venture with local operating partners to leverage ourselves on a day-to-day basis.

Present

Rubenstein Partners currently manages two closed-end private equity funds with equity commitments in the amounts of $475 million and $515 million, respectively. Fund I was established in late 2005 and quickly closed in May 2006 with a diverse group of institutional investors, including educational endowments, public and private pension funds, and high net worth individuals. Investment activities in Fund I concluded in 2012 and we continue to manage assets acquired therein. Fund II commenced activities in mid-2012 and has $515 million in commitments from a similar investor base as Fund I. We are currently actively investing on behalf of Fund II.