First Closing of Wolff Credit Partners, L.P.
SCOTTSDALE, April 23, 2014 /PRNewswire/ — The Wolff Company announced the first closing of its latest investment vehicle, Wolff Credit Partners, L.P. (“WCP”). The new fund will be focused on making credit and preferred equity investments in multifamily development assets and multifamily acquisitions (stabilized and value-add). In its first closing, investors committed approximately $163 million to WCP. The Wolff Company expects the fund to reach approximately $200 million in total commitments.
“This is a very unique time in the real estate cycle. Multifamily development activity is steadily increasing but senior lending levels have become much more conservative. There is significant need for private providers of risk capital. We feel that we are uniquely positioned as an investor, developer and operator to identify attractive credit and preferred equity investment opportunities,” commented Fritz H. Wolff, CEO of The Wolff Company.
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.
Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: The Wolff Company
For further information: Stephen Nelson of The Wolff Company, 480.248.2519, email@example.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, firstname.lastname@example.org, for The Wolff Company.