W&D Investment Partners Forms $500M JV to Invest in Multifamily, Industrial
Walker & Dunlop Investment Partners (WDIP) announced this week it has invested $500 million in a joint venture with Pacific Life.
Mitch Resnick, President, WDIP, said in prepared remarks, that the fund would seek attractive value-add opportunities in these sectors with the aim to create a steady deal flow.
The joint venture will make equity investments in multifamily and industrial properties across the US, focusing on the robust middle market of real estate.
The partnership will invest $15 million to $50 million in equity per deal alongside sponsors, expecting to buy-in on as many as 30 assets with a total value in excess of $1.5 billion.
“With the current market dynamics in commercial real estate, industrial and multifamily provide more stability than other property types, and we continue to see a steady deal flow of attractive value-add opportunities in these asset classes,” Resnick said. “For many owners and operators, it has become even more important to gain access to strategic capital to fill their capital stacks. This partnership with Pacific Life will enable us to continue deploying capital in high quality opportunities across the country.”
WDIP’s investment vehicles focus on opportunistic, value-add, and income-oriented commercial real estate strategies. It invests on behalf of insurance companies, public pension funds, endowments, foundations, family offices, and high-net worth individuals, providing capital to middle-market commercial real estate sponsors.