MIDDLETON, WI-New York City-based Rothschild Realty Managers LLC has provided T. Wall Properties LLC, based here, with a $110-million investment for future building acquisitions and developments. The investment was made through Five Arrows Realty Securities V LP, an investment fund managed by Rothschild.
The large investment will allow T. Wall to triple its buying and building, president Terrence Wall tells GlobeSt.com. The company is used to receiving from between $100,000 to $1 million in investment funds from about 220 shareholders, of which about 20 took a cash buy-out from the Rothschild funds. "I was glad that we were able to offer the opportunity to all our investors to cash out if they wished," Wall says. "This new investment allows us to avoid going back to the country club crowd for $100,000 at a time."
He says about a third of the investment was used to repay debt. The rest of the money will be split between property acquisition and development, as it already is, of office, retail and industrial developments in Wisconsin and Arizona.
Wall says his company currently owns about 40 properties, and is building another 10. For example, the company is currently expanding its Greenway Center portfolio, with two new buildings, the six-story One Financial Place and the three-story 8333 Greenway Blvd., both in Middleton, WI. Clifton Gunderson LLP will be moving into 33,000 sf of One Financial in May, but no office tenants have been announced for 8333 Greenway.
The occupancy levels in the company's portfolio are more than 93%, says Wall. "Rothschild liked what we are doing, and we're going to keep at it," he says.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.