IRVINE, CA - Western National Group, a fully- integrated multifamily acquisition, development, construction, and property-management firm based in Irvine, California, and Dallas, Texas–based Banner Oak Capital Partners, LP, a real estate investment management firm focused on providing growth and investment capital to best in class operating partners, have launched a strategic joint venture that will invest in multifamily projects throughout California’s major markets.
The programmatic investment vehicle will provide general partner capital, as well as select limited partner capital, for both the acquisition of existing properties and for ground-up development projects. Additionally, the venture may seek the investment of third-party limited partner capital on a project-by-project basis, according to Michael Hayde, CEO of Western National Group.
“Banner Oak has an excellent track record of successful multifamily real estate transactions and has a reputation of high integrity,” says Hayde. “We are confident that this partnership is with the right people and has all the necessary elements for future success in the market.”
“We are delighted to partner with a company having such extensive experience and depth of knowledge in the multifamily market. The Western National team has impressed us with their commitment to excellence, collaborative culture, and disciplined approach. We look forward to making meaningful investments across California with a best-in-class developer and operator,” stated Patricia Gibson, CEO of Banner Oak Capital Partners.
About Western National Group: Western National Group is a 60 year-old, fully-integrated multifamily acquisition, development, construction and property management firm headquartered in Irvine, California. Western National Group is one of California’s largest multifamily owners/developers. Since its inception, the company has acquired or developed more than 50,000 apartment units. Western National Group has a portfolio under management of more than 24,000 apartment units. The company maintains relationships with several institutional, public, and private capital partners. Additional information is available at www.wng.com
About Banner Oak Capital Partners: Banner Oak Capital Partners, LP is a real estate investment management firm focused on value creation and capital preservation across market cycles through active management and a commitment to the highest standards of excellence. The Banner Oak team has invested in and managed a diverse portfolio of real estate operating companies and assets representing billions of dollars across the United States. These investments have spanned a variety of product types and strategies, including industrial, multifamily, senior housing, retail, office, hotel and residential lot development, and have included both debt and equity capital structures. For more information visit www.banneroak.com