Fundraising - MARCH 25, 2014

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Walton Street holds $1.4b close for Fund VII

by Andrea Waitrovich

Walton Street Capital has held a final close for its seventh fund on Feb. 28. The firm raised $1.4 billion for its Walton Street Real Estate Fund VII.

The fund continues Walton Street’s value-added and opportunistic investment strategy, focusing on various property types primarily in the major U.S. markets, and generally expects to employ portfolio acquisition leverage of approximately 55 percent to 60 percent.

As of the final closing, Fund VII had made 18 investments, many of which were sourced in 2012 and early 2013, in property types such as office (Boston, Chicago, Manhattan, San Diego, Seattle), retail (Maui, Denver), hotel (Chicago, San Francisco) and multifamily (southeast United States). Assets include the $28.5 million investment in the Fairmont Heritage Place, located at 900 N. Point St. in San Francisco, and three life-science office buildings in the San Diego submarket of Torrey Pines.

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