About

The Benbrooke organization was formed by Rich Lubkin and George Ackerman in 1992, and they both remain as the firm’s principals and leaders. 

Since its inception, Benbrooke's primary objective has been the opportunistic redevelopment and enlightened asset management of multi-tenanted commercial properties.  Many of our projects were properties affected by the various real estate recessions of the past quarter century.  Our current acquisition criteria includes stabilized properties that afford synergies with our current portfolio, as well as properties which meet the specific financial parameters of our investor partners.

Benbrooke is keenly aware of the life cycle of real estate assets.  We generally choose to enter projects at a transitional point in their productivity.  While many of Benbrooke's early assets were acquired from foreclosing financial institutions, most of our current projects have been acquired from institutions and private equity groups that have opted to cycle out of a property prior to the next repositioning phase.

Benbrooke's portfolio is comprised of a mixture of commercial asset types and geographic diversity.  We maintain a concentration of strip and neighborhood retail properties along the entire eastern seaboard and in Texas. 

The Benbrooke organization maintains offices in White Plains, New York; Bucks County, Pennsylvania; Haddonfield, New Jersey; Fort Worth, Texas; and Charleston, South Carolina.

Benbrooke is the umbrella organization for numerous partnerships and operating companies involved in varied portfolio management and value creation strategies in commercial real estate markets along the eastern seaboard and in Texas. The organization's fundamental strategy is to make direct investments in real estate assets, and to add value through enlightened and intensive management and redevelopment.

Benbrooke Realty Investment Company was founded with the mission of creating real estate value. Benbrooke provides strong risk adjusted returns for our equity investors and debt lenders, efficient capital for our investing partners, and a successful business climate for our tenants. We view our tenants, employees, contract service providers, property managers, lawyers, bankers, accountants, architects, engineers, and brokers as partners in a collaborative effort to consistently provide value for all of our constituencies. By creating value for others, we achieve value for ourselves.

Benbrooke is a direct investor in real estate assets. Our principals have acquired and redeveloped a multitude of properties, comprising over 4,000,000 square feet of commercial properties. We are value oriented, opportunistic investors. We generally seek to acquire properties which afford extensive upside potential through redevelopment and re-leasing. We will consider acquisition opportunities anywhere in the continental United States, but will be most aggressive in our core geographies of the eastern seaboard and the Dallas / Ft. Worth area of Texas.

Benbrooke acquires properties with unique, but quantifiable, problems. Such problems might include physical distress, resolvable environmental problems, limitations due to entitlements or other deed restrictions, or reluctant or fatigued ownership. We target assets in which our intellectual expertise or our relationships can mitigate unusual risks. We look for complex problems that require either complex solutions, or simple solutions combined with proprietary information and relationships.

Benbrooke regularly adapts its typical deal structure to the particular needs of an investor partner or a seller. We have structured joint venture transactions with institutional owners, providing management expertise and equity participation. We have used such structures when current owners have been constrained by accounting or other financial issues, which would preclude a straight sales transaction. We have also adapted our normal deal structure to accommodate investor partners in unique situations, including 1031 exchanges and other tax management strategies. 

George Ackerman

Principal, Benbrooke
4 Camden Street
Harvey Cedars NJ 08008
609 / 915 / 0565
GA@Benbrooke.com

George Ackerman is a 1983 graduate of James Madison University (Cum Laude) where he played intercollegiate soccer and studied business and information systems. He earned his M.B.A. in Finance from New York University in 1989 (with High Distinction, Beta Gamma Sigma).

Prior to forming Benbrooke, Mr. Ackerman was a Vice-President at The Brown Companies, a real estate investment and management firm based in New York City, where he was responsible for acquisitions and redevelopment project management. During his time at The Brown Companies, Mr. Ackerman was responsible for an eclectic list of projects including the leasing and renovation of commercial properties in New York City, land development projects in California, New Jersey, and the Hamptons, shopping center leasing and renovations in Texas,  and the redevelopment of an historic palace in Bratislava, Slovakia.

George Ackerman is one of the founders of Benbrooke and has been with the company since its inception.  His focus with the company is on acquisitions and project management.  He has led the negotiations for the majority of properties which Benbrooke has acquired. He is the project manager for the company’s Carolinas portfolio and asset manager for certain properties that are located in Texas and New Jersey.

In addition to his business activities, Mr. Ackerman is involved in a variety of volunteer activities, mostly involving local youth athletics.  He was one of the founders of the Hopewell Valley Athletic Hall of Fame and he is extremely active in coaching and supporting local youth sports.  He is also a Director of “The Lubkin Fund for MHE Research,” a medical research foundation.

Richard F. Lubkin

Principal, Benbrooke
4 West Red Oak Lane, Suite 105
White Plains, N.Y.  10604
914 / 470 / 5700
RFL@Benbrooke.com

Richard F. Lubkin is a graduate of The University of Virginia, where he earned his B.S. in Architecture. He received his C.S.S. in Administration and Management from Harvard University, and is a graduate of Columbia Business School of Columbia University in New York City, with an M.B.A. in Real Estate Finance and Investment Management (Beta Gamma Sigma).

Prior to forming Benbrooke, Mr. Lubkin was a Vice-President at The Brown Companies, a New York City investment management firm, collaborating with Mr. Ackerman in managing a $100,000,000 real estate fund.  During his tenure at The Brown Companies, Mr. Lubkin was responsible for the asset management of numerous projects, including commercial properties in New York City, acquisition and redevelopment of various shopping centers in Texas, acquisition and repositioning of a major subdivision in the Hamptons, and the acquisition and management of two significant resort properties on Cape Cod.  Furthermore, Mr. Lubkin was responsible for the firm’s financial management, systems, and business operations.

Rich Lubkin is one of the founders of Benbrooke and has been with the company since its inception.  His focus with the company is on corporate and financial management, as well as equity and debt placement and deal structuring.  Mr. Lubkin is also a senior asset manager for the company’s metropolitan New York City, Charlotte, Pittsburgh, and Texas portfolios.

In addition to his business activities, Mr. Lubkin has also held numerous civic roles, including serving as member and Chairman of the Planning Board and many other committees of his community in Westchester County, and as Chairman and primary author of the community’s master plan.  He is an active alumnus of Columbia Business School. Mr. Lubkin is also a founder and Director of “The Lubkin Fund for MHE Research,” a medical research foundation.

About Us

The Benbrooke asset management group provides investment strategies and solutions to institutional investors and sophisticated commercial property owners along the East Coast and Texas by leveraging the extensive investment, research and analytical capabilities of our organization. Our goal is to help institutions and high net worth groups successfully manage their challenged or distressed real estate investments as both institutional needs and the financial markets evolve.

Foundation

The ability to enumerate long-term investment objectives and pursue them systematically and dependably in all facets of real estate ownership is a hallmark of our organization’s thirty year history and long-term success.  Deployment of sophisticated analytical skills, advanced real estate skill sets and tools coupled with a common sense “hands-on” approach honed over years of direct real estate ownership and operations serve to support our experienced asset managers and provide our clients with a solid foundation for their investment.   We strive to consistently provide positive risk adjusted performance. 

Services

The key driver behind Benbrooke’s success has been the development of a deep understanding of the unique characteristics of real estate investment and operational expertise, particularly in cases of transitional and under-performing assets.  Our asset management group is capable of assisting clients in the development of both an investment thesis and comprehensive business plan for each asset owned or in the process of acquiring.  We structure a team of in-house personnel and select third party providers to execute on the plan. Our in-house staff has experience in all areas of real estate operations including:

To support their investments, the Benbrooke asset management group works with clients to determine, employ and monitor available resources in order to ensure the highest level of performance across all aspects of any given project.  We offer expert advice and execution from the project conception to ongoing operations and, eventually, through disposition.