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Chicago & Midwest  + Downtown  + Finance  |  May 7, 2021
Paul Bubny
By: Paul Bubny

WHI Real Estate Closes Fifth Fund at $385M

WHI Real Estate Partners L.P. (WHIREP) reached the final closing of WHI Real Estate Partners V, L.P. with $385 million of capital commitments, exceeding the fund’s $325-million target.

Chicago-based WHIREP expects to invest the fund in a broad range of industrial, residential, hotel, office, and other properties throughout the U.S., continuing the opportunistic investment program of its predecessors. 

WHIREP V received capital commitments from a diverse group of investors, including university endowments, foundations, healthcare systems, wealth management firms, family offices and others.

WHIREP expects the fund to acquire real estate assets with an aggregate cost between $1 billion and $1.1 billion. 

PJT Park Hill, a business group of PJT Partners Inc., served as exclusive placement agent. Kirkland & Ellis LLP served as counsel to the general partner in connection with the offering of interests in the fund.

Focused on middle-market real estate, WHIREP currently manages assets of approximately $1.1 billion.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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