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Our name is derived from the majestic and granite-laden Wind River Mountains - one of the youngest ranges in the continental United States and certainly the most spectacular. These peaks are also the source of the headwaters for all major drainages in the Western U.S.: three small trickles which eventually become the Colorado, Columbia and Mississippi Rivers and provide life to more than half of the country.
This same wind, water and rock have been permanent features of our habitat since the beginning of time, yet their very essence is in constant movement and change. Such are the forces that govern the world of real-estate investment. Those who succeed in this environment understand and respect its foundational principles while at the same time accepting, anticipating and even embracing radical changes in its landscape.
In keeping with this belief, WRG provides “preservation equity” that creates alternative solutions for owners and lenders in distress. Our capital is invested in three main areas:
- Recapitalization: rescue equity to restructure an existing capital stack. WRG injects private capital to better balance in-place financing for assets exhibiting potential for value creation. Operational and project-level improvements are then achieved via internal development resources and collaboration with strategic investment partners.
- Sub-Performing Notes: purchase of notes with break-even or better debt coverage. WRG evaluates these opportunities under the assumption that fee-simple interest in the property will be immediately pursued, and our typical value-add strategy will then be employed. We also underwrite options to modify the loan, hold to maturity or resell it.
- Acquisitions: investment in fundamentally sound real estate at a reduced sales price. WRG identifies properties with excellent fundamentals that are suffering from owner, lender, market and/or operational distress. Acquisition targets often include a seller-financing or assumable debt component.
Assets falling into these three categories must meet the criteria of being resource-constrained, with limited access to new debt and equity capital. They must also have an achievable value-add component and stand to benefit significantly from future market improvements.
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