CHICAGO – April 1, 2013— David Carlson and Mark Isaacson, principals of Chicago-based multi-family real estate investment firm Westdale Investment Partners LLC, today announced that it has rebranded and is reverting back to its original name of Redwood Capital Group LLC (Redwood). The change is effective April 1.
The return to Redwood, the initial name of the company when Carlson and Isaacson launched the multi-family investment firm in 2007, comes as a result of rapid growth — with the acquisition of 15 assets in the past 24 months alone. By focusing on the growth of its sponsorship platform of acquisition and asset management, Redwood will have greater flexibility to pursue new investment opportunities across diverse geographies, joint venture partners and other best-in-class operators.
Redwood will continue to partner with Dallas-based Westdale Asset Management on an investment-by-investment basis, but not exclusively, as was the case when the firm was known as Westdale Investment Partners. Re-branding as Redwood affords firm the ability to expand its footprint beyond that of Westdale Asset Management’s — in regions such as the Mid-Atlantic and the Northeast. Redwood will partner with various third-party property management companies who exhibit expertise in the regions where it invests.
“Opening a new chapter of growth on our original platform enables Redwood Capital Group to select and utilize alternative best-in-class property management companies at our discretion,” said Mr. Carlson. “Our relationship with Westdale remains strong and intact, and we look forward to using their property management services in a number of markets.”
As part of the rebranding, Redwood will introduce a new logo and marketing materials, as well as launch a new online presence with a dynamic site redesign that will go live in April.
Redwood owns and operates 24 properties totaling more than 8,300 apartment units in multiple markets throughout the Midwest, Southeast and Southwest. The firm anticipates closing $200 million in acquisitions by year-end, having already secured contracts on two assets under the Redwood name totaling over $40 million.
“Based upon the return of solid fundamentals within the multi-family sector coupled with a stable economic environment, we believe apartments will continue to outperform all other product types,” said Mr. Isaacson. “Redwood’s strategically located and very attractive assets within our growing multi-family portfolio of just over 8,300 units, speaks to the strength of our platform.”
Redwood aims to be the foremost choice for multi-family investment and asset management by institutional and private equity investors, lenders, brokers, sellers and third party managers.