Walton Global Announces $100 Million Builder Land Financing with Fortress Investment Group
Walton Global, a real estate investment and land asset management company with US$3.6 billion under management, is pleased to announce the closing of a $100 million facility provided by affiliates of funds managed by Fortress Investment Group LLC. The funds will be allocated to Walton’s builder land financing (BLF) business line to acquire properties in high growth areas to support home demand across the United States.
“This is such an important transaction for Walton as we continue to support our home builder partners to address a housing shortage that will take years to fulfill,” said Bill Doherty, CEO of Walton Global. “It is our pleasure to be working with Fortress, a firm with decades of experience in the U.S. housing market and a deep understanding of the macro dynamics driving housing demand, which we believe will remain elevated even in the face of a potential economic slowdown. Our efforts will continue to promote affordable housing for consumers, while generating strong balance sheets and margins for our network of home builders.”
Walton has been actively working to identify potential land acquisitions with a leading home builder since discussions began with Fortress.
Walton’s first facility acquisition to utilize the Fortress facility closed in May 2022. The $9.5 million project, La Playa, is a development located in Hayward, California within Alameda County in the San Francisco Bay Area, with plans to develop 47 new homes.
Walton expects to deploy the remaining capital in the coming months, with approximately seven targeted acquisitions in identified high growth markets such as Phoenix and Seattle. The amount of the facility may also increase to $150 million, which will be determined as additional properties are identified.
Walton’s BLF program offers solutions to land inventory needs by acquiring properties identified by builders and developers, and concurrently entering into option agreements with them for the future purchase of lots in phases. Investors receive cash flow as each option agreement is exercised or homes are sold, which can occur within 6 to 24 months.
The strategy used for the facility with Fortress is like Walton’s Builder Identified Land Target (BILT) Fund launched in early 2022, which is currently offered to broker-dealers, registered investment advisors, institutional and family office investors.
Doherty added, “We are looking forward to creating many new communities in the years ahead working together with Fortress and best-in-class national and regional builders to place this capital in areas that will make a difference.”
About Walton Global
Walton Global is a privately-owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning, and development of land. With more than 43 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US$3.6 billion in assets on behalf of its global investors located in 73 countries, builders and developers and industry partners. Walton has more than 97,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments, land financing programs and build-to-rent. For more information visit walton.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EIG Launches Chilean Renewables Platform, Grupo Cerro29.6.2022 17:00:00 CEST | Press release
EIG, an institutional investor to the global energy sector and one of the world’s leading infrastructure investors, today launched Grupo Cerro, a new renewable energy platform in Chile. The newly formed entity includes EIG-owned Cerro Dominador plants and the recently acquired ANPAC, the owner of a portfolio of 11 small and medium run-of-river hydroelectric power plants in the O’Higgins, El Maule, Bio Bio and La Araucania regions. The 110 MW ANPAC portfolio includes operating plants and projects at various stages of construction and development in both the spot and stabilized-tariff markets. Following the acquisition, Grupo Cerro now manages over 280 MW of installed capacity in Chile, including the Cerro Dominador Photovoltaic (PV) and Concentrated Solar Power (CSP) plants. The group’s portfolio also includes several projects in advanced phases of construction and development, including the Likana Solar complex, one of the largest CSP projects in the world with a capacity of 690 MW, Pa
Trackforce Valiant Acquires TrackTik Software, Creates the World’s Largest Security Workforce Management Company29.6.2022 16:00:00 CEST | Press release
Trackforce Valiant, a leading provider of security workforce management solutions, today announced the acquisition of TrackTik Software, one of the most innovative and fastest growing cloud-based security workforce management providers. The combination of these two companies has created a new dominant market leader in providing visibility and control for the physical security workforce. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220629005064/en/ “We are very excited to welcome TrackTik into the Trackforce Valiant family,” said Trevor Campion, CEO of Trackforce Valiant. “Now more than ever, we believe in the importance of providing the right security solutions for companies of all sizes and business needs. The addition of TrackTik enables us to provide a wide range of technology options that are purpose-built for the unique needs of physical security operations.” TrackTik was founded in 2013 with the mission of providing
Hy Stor Energy Strategic Partnership with Key Gulf Coast Port Becomes First to Deliver Renewable Hydrogen Access for Manufacturing, Industrial Applications, Port Operations and Long Duration Energy Storage29.6.2022 15:00:00 CEST | Press release
Hy Stor Energy LP (Hy Stor Energy), a company pioneering renewably produced green hydrogen and energy storage at scale in Mississippi, announced today a strategic partnership with the Hancock County Port and Harbor Commission (HCPHC) to provide zero-carbon, zero-methane hydrogen to Port Bienville Industrial Park and Stennis International Airport, accelerating the decarbonization of land, air, sea, and space. Through this partnership, Port Bienville will be the first port in the Gulf Region to integrate renewable hydrogen as a fuel into its operations. During the first phase of the partnership, the hydrogen hub is expected to produce an estimated 350 tons/day (320,000 kg/day) of renewable hydrogen and store more than 71,000 tons (69 million kg) of hydrogen in underground salt caverns. The existing Port Bienville infrastructure will expand to better enable decarbonization efforts and will be in a premium location to allow for new manufacturing of circular hydrogen infrastructure – the fi
Medidata Announces Rapid Expansion of its Sensor Cloud Network with the Addition of 10 Health Technology Innovators29.6.2022 15:00:00 CEST | Press release
Medidata, a Dassault Systèmes company, announced 10 highly innovative organizations have joined its groundbreaking Sensor Cloud Network. AliveCor, Aural Analytics, Biobeat, Blue Spark Technologies, Glooko, Indie Health, University of Arizona, Carnegie Mellon University, University of Rochester, and University of Vermont are now part of the first cross-sector collaboration focused on solving the challenges related to sensor integrations, standardization of sensor data, and the development of novel digital biomarkers and algorithms. These will help to create new digital endpoints that could translate into more effective treatments and better healthcare for patients. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220629005239/en/ The Sensor Cloud Network, which includes contract research organizations (CROs), device manufacturers, drug and vaccine developers, analytics companies, and academic institutions, creates opportunities
Western Union Highlights ESG Progress and Recognitions Received29.6.2022 14:00:00 CEST | Press release
The Western Union Company (NYSE: WU) today released its 2021 Environmental, Social and Governance (ESG) Report, spotlighting the Company’s ongoing commitment to advancing its strategy and actions aligned with key ESG priorities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220629005138/en/ Western Union's 2021 ESG report spotlights the Company’s ongoing commitment to advancing its strategy and actions aligned with key ESG priorities.(Photo: Business Wire) “People are drawn to work for and do business with companies that make an impact,” said Devin McGranahan, Chief Executive Officer. “This year’s report shows that Western Union continues to make solid progress on our ESG journey, which in turn enables us to effect even more positive change in the communities we serve. I’m proud to work with colleagues who bring their best every day to improve the lives of our customers and communities around the world.” 2021 ESG Highlights