NEW YORK & CHICAGO–Chicago-based Waterton and New York-based Park Madison Partners today announced the final close of Waterton Residential Property Venture XII, L.P. (“Venture XII”) with $511 million of equity committed. Venture XII will pursue a value-add investment strategy focused on multifamily properties in the top 12-15 markets throughout the United States. Venture XII’s investor base includes a broadly diversified mix of new and existing investors.
For Waterton, Venture XII marks the latest in a series of multifamily investment vehicles stretching back to 1995. The firm had previously worked with Park Madison Partners to raise Venture XII’s predecessor vehicle, Waterton Residential Property Venture XI, L.P., which closed in 2011 with $500 million of commitments. Venture XII was also targeting $500 million of commitments, closing just ahead of target.
“It has been a pleasure partnering with Waterton once again on a successful capital raise,” said Nancy Lashine, Managing Partner of Park Madison Partners. “Waterton bears all the hallmarks of an institutional best-in-class real estate manager. Waterton has a deep and experienced team, superior operating capabilities, and consistently strong performance.”
“We have a great group of investors in Venture XII, including several new relationships and many longstanding partnerships that are a testament to our company’s track record over the past two decades. We appreciate their confidence in our team and strategy,” said David Schwartz, Co-Founder, Co-Chairman, and CEO of Waterton. “Working with the Park Madison team made for an efficient and successful fundraising process, as it did for Venture XI, and we are thankful for their continued support.”
Venture XII’s investment strategy is consistent with strategies Waterton has been successfully executing for 20 years. Over the last two years, Waterton was ranked by Preqin as one of the most consistently top performing managers in real estate with the majority of its ten funds performing top quartile.
About Park Madison Partners
Park Madison Partners is a New York-based real estate placement and advisory firm focused on the global real estate private equity and private funds industry. To date, the firm has participated in the placement of over $7.5 billion of real estate equity capital globally. Park Madison Partners is a member of SIPC-FINRA and is certified with the Women’s Business Enterprise National Council. For further information, please visit www.parkmadisonpartners.com.
Waterton is a real estate investor and operator with a focus on U.S. multifamily and hospitality properties. Founded in 1995 by David Schwartz and Peter Vilim, Waterton executes value-add strategies and manages a national portfolio of multifamily and hospitality properties on behalf of institutional investors, family offices and financial institutions. Waterton has a proven expertise in selecting and managing attractive risk-adjusted real estate investments located in major markets around the United States. Since its formation, the company has invested over $5.3 billion in assets. Waterton is privately held by its co-founders and is headquartered in Chicago with seven regional offices throughout the United States. Currently, Waterton’s portfolio includes over $3.8 billion in assets, including 18,000 multifamily units and 13 hotels. For more information, please visit www.watertonassociates.com.