As many of you know, the Wisconsin Real Estate Program launched the Real Estate Private Equity Track in the Fall Semester of 2020. The goal of the 12-credit curriculum is to understand the real estate private equity organization. Mark Eppli and I teach the core Private Equity course and we have 14 real estate graduate students enrolled. Prior to launching this new track, we raised approximately $3 million dollars to invest as an LP alongside operating sponsors. The funds’ mission is to invest outside capital in an educational setting to deliver real returns for investors. The “management team” consists of MBA and MS students in the Real Estate Program at the Wisconsin School of Business.
The WREAA Fund I, LLP invests between $150,000 and $450,000 in any one investment where we have a value add, nationwide, multi-product focus with a 3-5 year expected holding period. Our students review each submittal and, if it meets our criteria it is submitted to an 11 person Investment Committee for final approval. We understand that sponsors need a quick decision and believe that our current procedures accommodate a rapid turnaround.
During the Fall semester the class formulated an investment criteria sheet and devised an organizational chart and protocol to insure an effective and efficient underwriting process. In the later part of the semester, we reviewed submittals and committed to a self-storage investment opportunity in Austin.
With our criteria and organizational planning behind us, the current Spring semester is all about deal flow and that is where we need your help! Since most of you are in the deal origination business, we are reaching out to ask you to for interesting private placement memoranda from your organization. We are looking for invitations to invest alongside you as an LP. The best structure for us is a “stand alone LLC” versus a fund structure with multiple investments. We will sign NDA’s, and our students understand the importance of confidentiality in these matters.
Deals can be submitted to our group email: firstname.lastname@example.org . The email distribution includes our students and Mark and me.
The Real Estate Private Equity course goes to the very core of our teachings and expertise and seeks to achieve four strategic initiatives: Educational Opportunities, Career Advancement, Industry Partnerships, and Attractive Returns. Deal flow is, of course, a necessary condition to its success.
Thank you for your help and consideration. We hope you’ll join us to support this innovative real estate private equity course and the overall educational mission of the Graaskamp Center.
Regards from the Graaskamp Center Team