INVESTMENT THESIS
Its focus is on markets with positive long-term demographic growth characteristics, primarily in the Southeastern United States where we can leverage our relationships, experience and expertisePrimary geographic markets are Florida, the Carolinas, Georgia, and Tennessee
Target deal sizing of $15 – 100mm of equity. While capitalizing on the market opportunity, WPP will remain highly selective
Residential – recapitalization and repositioning of underperforming and/or highly levered operating assets
Hospitality – over-levered limited-service product with high operating margins in strong leisure markets
Development – opportunity to step-in as replacement sponsor for broken projects
Office / Retail – deeply discounted assets with underutilized development potential
- Opportunities are coming from an array of market participantsValue-add multifamily vehicles and syndicators with investment vintages of 2020 – 2022 facing capital calls and debt maturities
- Hospitality owners and investment funds survived the Covid-19 pandemic but never replenished reserves
- Lenders, particularly regional banks and debt funds, with no appetite or mandate to own real estate projects under development
- Qualified sponsors with attractive development projects but insufficient access to capital