Approach

Overview

WREI is an opportunistic, fundamentals-driven real estate investor with a broad investment mandate and flat organizational structure that allows us to act quickly and enhances deal flow. WREI targets opportunities that are either “cheap” on a relative basis or “special”, and is intently focused on the value-creating business plan for each investment to drive capital appreciation. Our strategies center on secular themes and targeted geographies that exhibit long-term economic tailwinds, strong demographics and often high barriers to entry. For most strategies, we leverage strategic partnerships with exceptional local operators and/or service providers to execute the day-to-day business plan of each investment.

Philosophy

Unlike many traditional institutional advisors, WREI through its principals and employees invests a significant portion of the equity required for each investment. We are diligent stewards of invested capital and behave like owners because we are owners. We expect the same from our operating partners, who often have significant “skin in the game”.

WREI prides itself on independent data-driven research that drives our macro-orientation around high conviction themes and geographic selection. Within this framework, we invest opportunistically, reacting to changing economic conditions to take advantage of market dislocations and discrete opportunities, often at perceived contrarian times.

At the core of each investment decision we assess the opportunity for active value creation and the prospect for long term appreciation. We believe true wealth in real estate is generated by holding the best assets over the long term, and thus have an affinity to high quality real estate.

WREI fosters a highly entrepreneurial and collaborative culture, yet each investment must undergo WREI’s rigorous diligence process. We are intently focused on risk vs. reward.

Sector Focus

Multifamily Senior
Housing
Infill
Commercial

Our multifamily portfolio includes garden, mid-rise, and high-rise assets in growth markets across the southeast and southwest U.S. With each investment we seek differentiating characteristics from both a physical product and value perspective. All of our multifamily transactions are underwritten on an “un-trended” basis and must be supported by stabilized asset prices in the competitive area. Our condominium projects are located in affluent high barrier to entry markets with distinguished locations, and attention to design and detail.

We invest in market-leading senior housing assets in locations where we have identified a disconnect between wealthy, aging demographics and deficient, outdated inventory. We seek to partner with best-in-class operators who have extensive experience developing and managing senior assets. Our operating partners typically invest significant capital into each of these deals further aligning our interests.

We invest in value-add “Main and Main” street retail and office in high-barrier markets with outsized long term appreciation potential attributable to strong historical fundamentals and anticipated continued growth. These assets can often be characterized as “special”, “generational” long term holds. Our current portfolio includes investments in Aspen, CO, Charleston, SC, and Tempe, AZ.

Hospitality Strategic
Land
Structured
Transactions

Our hotel strategy targets special sites and or locations in high-barrier and growth markets predominantly within the select-service segment. We have a tendency to invest in ground-up developments over acquisitions so that we can construct a high-quality, differentiated physical asset superior to the subject’s competitive set. Our goal is to achieve durable double-digit cash yields with moderate leverage over a long-term hold period.

We seek opportunities to acquire covered land plays with redevelopment potential, fee land positions encumbered with ground-leases, and vacant land that needs to be entitled or rezoned. This strategy often provides us with a pipeline of vertical development opportunities that can be executed on an opportunistic timeline.

We take advantage of our deep understating of corporate credit, bankruptcy / distress, and our ability to provide creative solutions to complex transactions and situations. Examples include foreclosure acquisitions, note purchases, build-to-suits, sale leasebacks, etc.