W3 Partners Expands Into Southern California

ALISO VIEJO, CA-GlobeSt.com exclusively learns that W3 Partners, a privately-held real estate investment management firm, has hired Terry Thompson as managing principal to lead the firm’s expansion into Southern California. Thompson, a 25-year real estate industry veteran, is charged with seeking out value-add and core plus opportunities “to best leverage W3’s investment, operations, and financial expertise,” according to the firm.

Thompson will be based in Aliso Viejo, CA. In joining the firm, Thompson cited W3’s hands-on approach to investment management as a real asset to the firm’s ability to effectively build a strong portfolio in Southern California.

Thompson comes to W3 following a six-year tenure with WCB Properties as partner in charge of acquisitions. During that time he was responsible for all acquisition activities including placement of a $300-million Southern California value-add fund with UBS.

With a number of institutional relationships honed throughout his career, Thompson brings significant experience in business development and advising institutional clients and financial partners, according to W3. His career includes extensive experience with repositioning assets and creating and increasing asset and portfolio value.

Most recently Thompson served as a managing director with Faris Lee Investments where he consulted on their institutional market platform.

According to W3 Founding and managing partners Diane Olmstead and Susan Sagy, the firm brings together top real estate talent from major blue-chip firms who employ a hands-on approach to value creation on a local market level by taking advantage of strong local market knowledge and relationships. W3 Partners was founded in 2009 and formed a strategic joint venture with Dallas-based Akard Street Partners LP, an investment partnership of Hunt Realty Investments Inc. and the Teacher Retirement System of Texas. The joint venture was created to invest capital in value-add office and office R&D assets in California and the Pacific Northwest. W3 invests across the capital stack, purchasing debt as well as fee simple positions.  The firm also provides joint venture equity for recapitalization of assets.

“ W3's investment strategy of executing transactions across all structure types, from fee interests, to debt and recap capital, is integral to delivering the best risk adjusted returns to our  investors”  says W3’s Sagy. “Because of our capital structure we have the unique ability to close deals quickly as demonstrated by our Seattle and Bay Area acquisitions that we completed over the past 12 months.”

Prior to his acquisitions role with WCB Properties, Thompson was a senior vice president for PM Realty Group. In this capacity he led their business development efforts and directed delivery of commercial real estate services to PM Realty Group’s institutional clients throughout Southern California. Thompson also served as regional vice president with Legacy Partners directing portfolio decisions and services consisting of approximately 13 million square feet of commercial properties while overseeing a staff of more than 40 employees throughout Southern California. He served as president for NAIOP SoCal in 2008 and is a past member of ULI, ICSC and UCLA REAG.

“Terry fits our culture well in that he understands the value of local relationships and local expertise. We look forward to building our firm’s brand in Southern California through strategic acquisitions of office and R&D/flex properties,” says Olmstead. “We believe this is an opportune time in the cycle to gain market share. We look forward to bringing together our team’s skill sets in combination with Terry’s deep real estate experience.”