{"id":2638,"date":"2019-11-05T10:34:00","date_gmt":"2019-11-05T09:34:00","guid":{"rendered":"https:\/\/www.weinbergcapital.com\/?post_type=news&#038;p=2638"},"modified":"2022-09-15T14:38:59","modified_gmt":"2022-09-15T12:38:59","slug":"weinberg-capital-partners-announces-the-first-close-of-its-value-added-fund-wrep3-at-110-million-euros-and-already-a-first-acquisition","status":"publish","type":"news","link":"https:\/\/www.weinbergcapital.com\/en\/all-news\/weinberg-capital-partners-announces-the-first-close-of-its-value-added-fund-wrep3-at-110-million-euros-and-already-a-first-acquisition\/","title":{"rendered":"Weinberg Capital Partners announces the first close of its value-added fund WREP#3, at 110 million euros, and already a first acquisition"},"content":{"rendered":"\n<p><strong>Weinberg Capital Partners announces that it has raised 110 million euros for the first close of its value-added real estate fund, WREP#3, with French and International institutional investors and is now aiming for a final close at 250 million euros.<\/strong><\/p>\n\n\n\n<p>The investment strategy of the WREP#3 fund lays emphasis on the repositioning and development of office, retail and business buildings, mainly in Paris and the Ile de France region. Its &#8220;local&#8221; strategy is a key success factor according to Jean-Philippe Olgiati. Deal size varies from \u20ac25 to 100m.<\/p>\n\n\n\n<p>The fund has just completed its first acquisition, a flagship building located in the 9th arrondissement of Paris. It will be renovated by architect Franklin Azzi. On 22<sup>nd<\/sup> October 2019, WCP signed a lease on the entire building with a first legal tenant. Another acquisition is expected to be announced by the end of the year.<\/p>\n\n\n                <\/div>\n            <\/div>\n        <\/div>\n\n        <div id=\"block-verbatim-block_63231ca11e957\" class=\"block-custom-acf block-verbatim\">\n\n            \n\n                <div class=\"section section-gmt-2 section-pt-3 section-pb-3  bg-medium-blue c-white\">\n                  <div class=\"container max-w-880 mx-auto\">\n\n                    \n\n                        <div class=\"quote-content font-light\">&ldquo;his first close demonstrates our investors&#8217; confidence in our ability to source, despite a competitive environment. The deal in the 9th arrondissement is the best illustration of this. We are now in a position to invest more than \u20ac200 million on a discretionary basis, including bank financing, and are pursuing the development of WCP&#8217;s real estate platform.&rdquo;<\/div>\n\n                                                <div class=\"quote-source font-light\"><strong class=\"font-bold\">Jean-Philippe Olgiati<\/strong>\n                             &#8211; Partner and Managing Director in charge of real estate activities                                                    <\/div>\n                        \n                                        <!-- quote -->\n\n                  <\/div>\n                <\/div>\n                <!-- section -->\n\n        <\/div>\n        <!-- block -->\n\n        <div class=\"section\">\n            <div class=\"container max-w-880 mx-auto\">\n                <div class=\"editor-text font-light\">\n        ","protected":false},"excerpt":{"rendered":"<p>Weinberg Capital Partners announces that it has raised 110 million euros for the first close of its value-added real estate fund, WREP#3, with French and International institutional investors and is now aiming for a final close at 250 million euros. The investment strategy of the WREP#3 fund lays emphasis on the repositioning and development of [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-2638","news","type-news","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.weinbergcapital.com\/en\/wp-json\/wp\/v2\/news\/2638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.weinbergcapital.com\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.weinbergcapital.com\/en\/wp-json\/wp\/v2\/types\/news"}],"author":[{"embeddable":true,"href":"https:\/\/www.weinbergcapital.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.weinbergcapital.com\/en\/wp-json\/wp\/v2\/comments?post=2638"}],"version-history":[{"count":0,"href":"https:\/\/www.weinbergcapital.com\/en\/wp-json\/wp\/v2\/news\/2638\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.weinbergcapital.com\/en\/wp-json\/wp\/v2\/media?parent=2638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}