Exeter Property Group to Open Chicago Office, Advise on with 2.96M SF Industrial Portfolio
Posted May 2, 2011
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Plymouth Meeting, PA-based Exeter Property Group has been hired to provide advisory services with respect to Wrightwood Capital's Industrial Property Funds II and III.
Originally formed by Wrightwood Capital in 2003 and 2005, the two funds made 32 investments between 2003 and 2008 and currently include 21 industrial properties encompassing 2.96 million square feet throughout the greater Chicago area.
As part of the agreement, Wrightwood Capital Senior Director, Industrial Fund Management, Tim Walsh, will join Exeter Property Group, where in addition to continuing to support the remaining assets in the Wrightwood Capital Industrial Property Funds, he will establish a new Chicago office for Exeter.
Tim will continue to work closely with Jason Defilippis and others at Wrightwood Capital to manage Industrial Property Fund II and III.
"This new agreement with Exeter Property Group ensures that our industrial investments are actively and carefully managed by the same team that was involved from the beginning, with Wrightwood Capital continuing to manage its industrial funds supported by Tim Walsh and Exeter," said Bruce Cohen, CEO of Wrightwood Capital.
"We feel this is a positive step as we provide investors unparalleled access to a best-in-class industrial investment platform," said Tim Weber, CFO of Exeter Property Group in a statement.
Exeter Property Group is an investment manager and real estate operator executing property acquisitions and asset management out of 7 regional offices across the U.S. Exeter currently invests on behalf of institutional investors, including U.S., European, and Asian pension funds, endowments, fund of funds, and insurance companies
Wrightwood Capital has made over $5.4 billion of loans and investments since 1997, and currently manages approximately $1.5 billion in assets.
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