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Wheelock holds $625m close for opportunistic fund
Wheelock Street Capital has held a $625 million final close for its second real estate fund.
Wheelock Street Real Estate Fund II intends to continue the fund series’ opportunistic approach of investing across the capital structure and targeting out-of-favor real estate sectors where Wheelock can establish a competitive edge by leveraging its in-house operating platforms. The firm’s investment strategy targets U.S. real estate assets with a specific focus on hospitality, retail and residential land assets.
The firm has started to invest its capital, acquiring a 1,000-acre master-planned community in Aurora, Colo., called Rocking Horse; a 925-acre master-planned community in the Dallas suburb of Forney, Texas; the 547-room Dallas/Addison Marriott Quorum by the Galleria hotel located in the Addison/Galleria submarket in Dallas; and two vacant parcels in Bonita Springs, Fla., for the const