Waterton Closes $1.73 Billion Multifamily Real Estate Fund
Waterton's Major Fund Closing Announcement
Waterton is making headlines with the successful closure of its latest initiative, the Waterton Residential Property Venture XV, L.P. This outstanding fund recently closed with an impressive total of $1.73 billion in equity commitments coming from a diverse set of institutional investors across the globe. Notably larger than its predecessor fund, this effort marks a significant milestone in the realm of multifamily real estate investment.
Investment Strategy Amid Economic Shifts
As the market faces challenges like interest rate fluctuations and varying demand across sectors, Waterton's leadership is optimistic about potential investment opportunities. David Schwartz, the chairman and CEO, noted the potential for significant gains in the multifamily sector, emphasizing that the current disruption can lead to attractive investment prospects. He highlighted their longstanding strategy's resilience, honed over nearly three decades of experience in multifamily investing.
Positive Response from Investors
Michelle Wells, managing partner of investor relations at Waterton, reflected on the remarkable success in attracting investors during a challenging fundraising environment. This response underscores their historical performance as specialists in the multifamily sector and the robust relationships they have built over the years. She expressed excitement about collaborating with a distinguished set of global institutional investors, both returning partners and new entrants into this promising venture.
Recent and Future Investment Activity
Since the fund's first close occurred late last year, Waterton has remained active in exploring investments throughout 2023. Their inaugural investment for Venture XV was a strategic acquisition located in a prime area of Chicago. This high-rise building, boasting 346 units, was completed in 2020 and represents the first of several targeted investments that continue to unfold. Moreover, they are eyeing distressed opportunities and traditional value-add projects to maximize their asset portfolio.
Focused Multifamily Investments in Key Markets
The Venture XV fund is predicted to target up to $5.0 billion in gross assets across 30 to 40 multifamily properties in strategic markets. Waterton intends to continue their proven tactics, akin to those employed with their $1.5 billion predecessor fund launched in 2020, ensuring a focus on well-positioned and maintained workforce housing, prioritizing areas with favorable job growth, and favorable employment metrics.
About Waterton
Established in 1995, Waterton is more than just a real estate investment and property management company; it specializes in multifamily and hospitality assets within the United States. Their commitment to executing value-add strategies benefits their extensive portfolio which is managed on behalf of institutional investors, family offices, and financial institutions. As of mid-2024, Waterton holds a substantial $10.0 billion in real estate assets, highlighting their standing in the market.
Contact Information
For media inquiries, the dedicated press contact is Great Ink Communications. Anyone can reach out at (212) 741-2977. For specific inquiries, Sara Williams and Eric Gerard can be contacted via their email: 383497@email4pr.com.
Frequently Asked Questions
What is the total capital raised by Waterton's latest fund?
Waterton successfully raised $1.73 billion for the Waterton Residential Property Venture XV fund.
What type of properties will Venture XV focus on?
The fund will target distressed opportunities and traditional value-add properties in major U.S. markets.
Who are the key leaders at Waterton?
David Schwartz serves as chairman and CEO, while Michelle Wells is the managing partner of investor relations.
When was the first close of Venture XV?
The first close for Venture XV was held in December of the prior year.
What was the previous fund size before Venture XV?
The predecessor fund was sized at $1.5 billion, established in 2020, serving as a benchmark for the new fund's larger scale.
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