Company: T. Wall Properties
Contact: Terrence Wall, President
Phone: (608) 241-2100
***FOR IMMEDIATE RELEASE***
March 15, 2006, Madison, WI –
T. Wall Properties Master Limited Partnership just completed a successful fourth equity offering, raising $5 million. The offering was fully subscribed. The Partnership added 48 investors, increasing the total number of unit holders to 196.
“We’ve seen a number of investors transferring all or part of their IRA investments, because not only are they seeking diversification, but real estate in general is offering more attractive returns,” said Terrence Wall, President of T. Wall Properties. The Partnership offered a preferred return to the investors of 10% per year in addition to sharing in a portion of the upside.
Given the current level of interest in the investment, T. Wall Properties has decided to open a new offering for an additional $5 million. “We have a number of investors who still wanted to invest after the fourth offering closed, so we know there is enough interest to open another offering,” said Wall.
T. Wall Properties currently has an eye on a number of acquisition opportunities right here in Greater Madison. “We currently have a number of properties under contract that we will be closing on for which we can deploy the additional equity, in addition to a few other opportunities that we would like to pursue,” said Wall.
The Partnership has a property portfolio consisting of over 1.3 million square feet and with recent acquisitions now controls or owns over 660 acres of developable land around the edge of Madison. The Partnership has the ability to develop an additional 5.3 million square feet of space, which would help the Partnership reach it’s long-term objective of creating a portfolio that exceeds $500 million in gross asset value.
The General Partner, T. Wall Properties, is a Madison-based, award-winning commercial real estate development firm that manages on behalf of the Partnership 1.3 million square feet of space, which makes it one of the largest office developers in Wisconsin and the largest in Dane County.
T. Wall Properties has created and developed some of Madison’s most prominent master planned business communities like City Center West, High Crossing Environ and The Center for Industry & Commerce.
T. Wall Properties recently received a number of awards, including the Office Building of the Year award for the Midwest Northern Region from The Building Owners and Managers – International Association for the development of City Center West.
If you would like more information on any of T. Wall Properties locations or investment opportunities, please call (608) 241-2100.