Jade at North Hyde Park – Tampa, Florida
Westminster Realty Partners IV LP Joint-Venture Investment
2019 Year in Review
Westminster Capital distributed $127.3 million to investors during 2019 across all investment platforms and raised $89.0 million of equity capital for Westminster Realty Partners IV LP (WRP IV) with final closing December 2019. The productive year was highlighted by sales of eleven properties consisting of 540 apartment units, 515,600 SF industrial, 64,000 SF medical office, 2,238 self-storage units, 199,616 SF office and 286 hotel rooms. The weighted average returns for the sale transactions were 26.7% IRR, and 2.1 Equity Multiple, net to the Funds. The acquisitions team closed on the purchase of a portfolio of 4 existing apartment buildings to rehab and 4 development properties consisting of, in total, 527 apartment units, 375,000 SF industrial, 1,132 self-storage units, and 112 senior living units.
Institutional capital appetite remains strong as we enter 2020. Westminster expects several portfolio property sales in 2020 driven by institutional demand for yield. It is also anticipated that creating value will remain manageable, particularly in the Westminster Realty Partners platform focused on the three long-term secular changes that drive occupant demand of Demography/Lifestyles (Work-Live-Play), Technology/E-Commerce/Logistics, and Increasing Urbanization.
About Westminster Capital
Westminster Capital manages real estate investment strategies on behalf of private wealth capital, including sponsorship of closed-end investment funds and separate account portfolios totaling $973 million of investor capital. Westminster Capital makes commercial property investments throughout the United States across Industrial/Distribution, Apartments, Medical Office and Senior Living properties offering Value-Add to Opportunistic risk-reward returns. Such work includes rebuilding income streams of existing properties, or manufacturing them through new construction. The firm employs careful investment underwriting and pursues well-funded tenants motivated by powerful, long-term secular trends in their needs for such properties. Founded in 1988, the firm is headquartered in Lake Forest, Illinois.