Blue Capital Investments

Real Estate Alert, Jan 21, 2004

Blue Capital Investments will likely be the next major German fund manager to jump into the market for Western U.S. office buildings. In the next six months, the company plans to begin looking at conservative investments in metropolitan areas stretching from Phoenix to Seattle as it seeks to make a final investment through its new closed-end fund.

It's seeking to add a property valued at $75 million to $150 million to the fund, which currently includes $201 million of office properties in Washington and Miami. Blue Capital's only Western U.S. office holding is the 336,000-sf Great American Tower in Phoenix, which it bought in 2000.