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This transaction provided the equity capital for WIP (III) Investment Limited Partnership to execute their strategy to purchase undervalued and underperforming purpose-built rental apartment buildings in the Greater Vancouver Area. By applying their unique management experience, these assets are transformed to their full economic potential.
About Western Investment Properties (WIP): Western Investment Properties began their first fund (WIP I) in 2002 and successfully sold the portfolio for $54 million. WIP (II) followed in 2010 and developed a portfolio of buildings that recently sold for $170 million to one of Canada's largest real estate investment trusts. Led by Ward Jones, WIP continues to execute its strategy to develop building portfolios and deliver superior returns to their investors.
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