Whitman Peterson holds $402m final close

Whitman Peterson, a real estate private equity company based in Southern California, has held a $402 million final close for Whitman/Peterson Partners III, according to a filing with the SEC. The firm did not comment on its fundraising efforts.

The fund held its first close in December 2016, raising $250 million in equity, according to a filing with the SEC.

Whitman/Peterson Partners III is a closed-end fund that will invest in hotel, multifamily and student housing properties throughout the United States.

The fund’s predecessor, Whitman/Peterson Partners II, held a $200 million final close in 2015.

For all three of its funds, Whitman Peterson invests primarily in multifamily, senior housing and hospitality assets, though the firm will invest in other property types, according to its website.

Since late 2010, Whitman Peterson has formed three strategic partnerships with operating companies through which the firm and its partners have invested in the acquisition or development of more than 100 properties, with an aggregate capitalization of over $4 billion. The firm has investments across 50+ markets in the United States and has recently made its first international investments in London.