The Westport Team focuses its investment activities on individual properties or real estate-related assets.
This approach best utilizes the sourcing, acquisition and management skills of the Investment Team. Our funds
are expected to derive a significant portion of their return through skilled management of properties that provide
current income.
The Team has developed and refined a rigorous property-level underwriting, due diligence and investment review process
which enables it to identify and mitigate potential risks. The due diligence process includes macroeconomic and real
estate market reviews, financial analyses and legal and environmental assessments. Westport will also seek to evaluate
rent and sales comparables, engineering reports and leases and conduct tenant interviews to complete a thorough analysis
before closing a transaction. Once Westport commits to a transaction, it will endeavor to use standardized legal
documentation in order to streamline and maintain consistency in the negotiation process with sellers, buyers, service
providers and joint venture partners. This established methodology is expected to enable Westport to analyze, underwrite
and quickly close time-sensitive transactions.
After closing a transaction, the team continuously monitors performance against established targets and manages assets
on a proactive basis in order to maximize value. The Investment Team may work with local partners to oversee the implementation
of each asset’s business plan, including budgeting, capital expenditures, tenant improvements and financial performance.
A critical distinction in Westport’s asset management philosophy is the continuous involvement of the professional
responsible for acquiring an asset throughout such asset’s life cycle. Rather than Westport maintaining separate acquisition
and asset management teams, the Westport professional who sources a transaction will monitor and manage the investment from
underwriting and due diligence during the acquisition process, to the leasing and repositioning of the asset during its
holding period, and ultimately to the financing and sale of the asset when it is stabilized. Westport believes this asset
management structure promotes team member accountability for investments and maximizes value.
The Team has developed a broad network of relationships with operating partners who have extensive familiarity with
local market conditions and promote deal flow by sourcing proprietary private-market transactions. These partners
possess superior asset level management and execution capabilities. In general, Westport requires significant
capital contributions from its operating partners and structures transactions to provide back-end incentive
compensation in order to align the interests of the partners with those of the investors in the Fund. Westport
expects to maintain substantial control over strategic decision-making in its joint ventures with local operating partners.
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