By Mike Sunnucks | Rose Law Group Reporter
Walton Global — a Scottsdale-based land acquisition and real estate investment firm — has launched two new funds to support the “escalating need for land” by U.S. homebuilders.
Walton’s U.S. Residential Growth Fund and the U.S. BILT Fund “will focus on acquiring land in submarkets near growing metropolitan cities in Texas, California and Colorado” as well as other markets.
The funds are open to investors, according to Walton. The Arizona real estate company is looking to raise $50 million for the U.S. Residential Growth Fund and $50 million to $100 million for the BILT Fund.
“Our new U.S. strategy is based on the continued demand for housing which is depleting homebuilders’ land inventory faster than they can build homes,” said Todd Woodhead, executive vice president of capital markets for Walton. “Homebuilders are searching for a steady flow of land into their pipelines, so they can bring new homes to the market as quickly as possible.”
Walton has more than 98,000 acres of land in its North American portfolio and $3.4 billion in assets worldwide.
“Our new funds are intended to help home builders with land inventory while intending to provide our investors with attractive returns and continuous cash flow. Based on projections, the real estate market isn’t anticipated to slow down anytime soon, which will fuel our funds well into the future,” Woodhead said.
