CHICAGO, March 29, 2018 /PRNewswire/ -- WHI Real Estate Partners L.P. ("WHIREP") announced today the final closing of WHI Real Estate Partners IV, L.P. ("WHIREP IV" or the "Fund") with $285 million of capital commitments, and an affiliated co-investment partnership with $17 million of capital commitments, exceeding the Fund's $250 million target.
WHIREP expects to invest the Fund in a broad range of office, industrial, residential, hotel, retail and other properties throughout the United States, continuing the opportunistic investment program of WHIREP's predecessor funds.
WHIREP IV received capital commitments from a diverse group of institutional investors, including university endowments, foundations, corporate pension plans, family offices and others.
WHIREP anticipates that the Fund will acquire real estate assets with an aggregate cost of $750 - $850 million. WHIREP IV has already consummated seven investments, and currently owns controlling interests in office, industrial and residential properties throughout the U.S. aggregating approximately 2.6 million square feet.
Park Hill Group, an affiliate of PJT Partners Inc., served as exclusive placement agent to the Fund. Kirkland & Ellis LLP served as counsel to the general partner in connection with the offering of interests in the Fund.
About WHI Real Estate Partners
WHI Real Estate Partners L.P. is an opportunistic investment firm that specializes in repositioning middle-market real estate assets throughout the United States, through a series of private, institutional investment funds. WHIREP currently manages assets of approximately $850 million for a select group of endowments, foundations, corporate pension plans, family offices and others.
This Press Release contains forward-looking statements that are based on WHIREP's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates," variations of these words and similar expressions are intended to identify forward-looking statements which include, but are not limited to projections of revenues, earnings, returns, etc. These statements are not guarantees of future performance and involve numerous risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in this Press Release due to a variety of factors. All of the interests in the Fund having been sold, this Press Release has been issued as a matter of record only, and does not constitute an offering of any security, or as a solicitation of an offer to acquire any security.
SOURCE WHI Real Estate Partners L.P.