TEAM
Management Experience
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- WPP principals have founded and managed highly successful real estate businessesOver the past 30 years, the principals have invested, developed, constructed and managed more than $30 billion in global real estate assets
- Collectively, they have deployed over $5bn of equity in property interests exceeding $10 billion in distressed situations
- •Over the last two decades, they have developed and fostered deep, trust-based relationships with some of the most significant global institutional real estate investors, including Abu Dhabi Investment Council, CalSTRS, AT&T Pension, CalPERS, DuPont Capital, China Investment Corporation, Starwood Capital Group, and Invesco
- •The principals’ aggregated 15-year track record is a 54.1% IRR with 4.8x equity multiple post-tax pre-promote
- •Over their collective careers, the WPP principals have led some of the largest distressed debt and adaptive reuse projects in the United States:Acquisition of the $4.5bn face-value distressed loan portfolio owned by the former Corus Bank
- Purchase of the failed Gansevoort South Beach and redevelopment into the 1Hotel & Homes South Beach, a 425-key hotel with 163-luxury for sale condominiums
- Ran the acquisition, site planning, entitlement, environmental remediation, horizontal development and first six phases of vertical development of SoLe Mia in North Miami, a 185-acre mixed-use master planned development entitled for 5,000 residential units and 1.6mm square feet of commercial space
