Watt Companies, based in Santa Monica, Calif., has launched Watt Investment Partners, a new acquisition arm that will focus on U.S. commercial property.
According to the company, Watt has committed an initial $60 million to invest in a variety of projects including retail, multifamily, performing and non-performing debt, and land for development. Former Watt President and CEO Jim Maginn will lead the new venture in collaboration with former Chief Investment Officer Dean Pentikis.
‘The real estate market has changed dramatically over the past few years, and this is truly an ideal time for Watt Companies to begin deploying capital, creating new joint ventures, and identifying acquisition opportunities in the marketplace,’ says Maginn, who serves as senior managing partner for Watt Investment Partners. ‘We are expecting continued volatility for the foreseeable future, but that uncertainty is exactly what will create many different real estate opportunities.’
