Volume IV · No. 14 Private & Confidential Issued · Spring MMXXVI
H
Holbrook & Co.
Private Capital for Residential Development
Established New York · Philadelphia · MCMXCVIII
— A Note from the Partners —

The American city is being
rebuilt by the operators
who live within it.

Holbrook & Co. is a private capital firm investing in ground-up and adaptive-reuse residential projects in select Northeast corridor markets. We capitalize developers we know personally, structure waterfalls that pay our partners first, and report to our investors with the discipline of a fiduciary — because that is precisely what we are.

Vintage 2026 · Now Capitalizing
— The House Principles —

Four commitments,
quietly enforced.

I.

Capital First

Every distribution flows to LPs before the sponsor earns a dollar of promote. Always.

II.

Disciplined Basis

Off-market sourcing. Three-scenario underwriting. If downside doesn't pencil, the deal doesn't clear.

III.

Aligned Execution

Sponsor co-invests 10% minimum on every deal. We make money the way our partners make money.

IV.

Fiduciary Reporting

Quarterly transparency. Construction draws documented. K-1s issued on schedule, every year.

— Portfolio of Record —

Seven projects.
Four vintages.

A documented record of capital deployed, capital returned, and capital at work. Detailed memorandums available to qualified partners on request.

Ref.
Project
Asset Type
Capitalization
Hold
Multiple
Status
H.001
Rittenhouse RowPHILADELPHIA · PA
Ground-Up10 Units
$8.4MEquity $3.0M
16 mo.
2.2×IRR 25%
Exited
H.002
Tribeca LoftNEW YORK · NY
Adaptive6 Units
$14.2MEquity $4.9M
22 mo.
1.8×IRR 18%
Exited
H.003
Old City PairPHILADELPHIA · PA
Ground-Up2 Units
$2.4MEquity $850K
11 mo.
2.5×IRR 32%
Exited
H.004
Brooklyn Heights BrownstoneBROOKLYN · NY
Restoration4 Units
$6.1MEquity $2.1M
14 mo.
2.1×IRR 24%
Exited
H.005
Spring Garden BlockPHILADELPHIA · PA
Ground-Up18 Units
$12.4MEquity $4.2M
~ 18 mo.
2.2×Pro Forma
In Build
H.006
Boerum Hill MewsBROOKLYN · NY
Ground-Up8 Units
$9.6MEquity $3.4M
~ 16 mo.
2.0×Pro Forma
Pre-Con
H.007
Graduate Hospital TrioPHILADELPHIA · PA
Ground-Up3 Units
$3.2MEquity $1.1M
~ 14 mo.
2.3×Pro Forma
Sourcing
Aggregate Capitalization, All Vintages
All Asset Classes
$56.3M
Avg. 16 mo.
2.1× Avg.
Closed Network
H

"The best capital is patient capital. The best operators are local operators. The best deals are sourced not in the market — but in the relationships around the market."

From the Partners' Letter, Q1 MMXXVI
— Standard Terms —

The offering,
as published.

Holbrook & Co. operates on standard, transparent terms across every vintage. We do not negotiate principal terms with individual partners — alignment by structure is preferable to alignment by handshake.

Preferred Return
8% Annualized · paid before promote
First-Tier Split
70 / 30 LP / Sponsor after pref
Catch-Up Tier
50 / 50 above 15% IRR hurdle
Sponsor Co-Invest
10% minimum · every deal · no exceptions
Hold Period
12 — 24 months target · earlier exits welcomed
Minimum Commitment
$100,000 per deal
Reporting Cadence
Quarterly construction & financial reports
Investor Portal
Juniper Square · K-1s issued by March 15
By Introduction Only

Capital with
conviction.

Holbrook & Co. accepts a limited number of new partners each vintage. Introductions are welcomed from existing partners, advisors, and operators within our network. Direct inquiries may be made via the address below.

Write to the Partners