Fundraising - JANUARY 15, 2014

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WHI launches high-return property fund

by Andrea Waitrovich

WHI Capital Partners has launched a third fund with a $250 million fundraising goal, according to a filing with the SEC.

WHI Real Estate Partners III follows its predecessor WHI Real Estate Partners II, which closed in June 2012 with $102 million in equity commitments. The fund has a value-added, opportunistic investment style. It acquires distressed assets or lending against them. It also plans to buy mortgages with an eye toward gaining control of the underlying properties and expects to write loans or possibly supply equity to other buyers. The firm will invest in stalled development projects as well.

WHI Real Estate Partners was founded in 2010 and currently manages approximately $250 million of U.S. real estate assets through opportunistic funds and separate co-investment vehicles.

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