CHICAGO, May 6, 2021 /PRNewswire/ -- WHI Real Estate Partners L.P. ("WHIREP") announced today the final closing of WHI Real Estate Partners V, L.P. ("WHIREP V" or the "Fund") with $385.0 million of capital commitments, exceeding the Fund's $325.0 million target.
WHIREP expects to invest the Fund in a broad range of industrial, residential, hotel, office, and other properties throughout the United States, continuing the opportunistic investment program of WHIREP's predecessor funds.
WHIREP V received capital commitments from a diverse group of investors, including university endowments, foundations, health care systems, wealth management firms, family offices and others.
WHIREP currently anticipates that the Fund will acquire real estate assets with an aggregate cost of $1.0 - $1.1 billion.
PJT Park Hill, a business group 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 investment firm focused on repositioning middle-market real estate assets throughout the United States, through a series of private investment funds. WHIREP currently manages assets of approximately $1.1 billion for a select group of university endowments, foundations, health care systems, wealth management firms, 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.