SkyWalker Property Partners has launched a $250M fund to acquire distressed assets and new developments across Texas and beyond.
SkyWalker's The Leverage Strikes Back fund, the firm’s fourth and largest fund was seeded by $20M of capital raised in the first quarter of this year, according to a news release. The fund will target investments with return opportunities between $10M and $30M.
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“By year’s end, we anticipate the market will be faced with a wave of maturing loans as owners struggle with refinancing, under-performing projects and tighter capital conditions,” Gary Walker, president and founder of SkyWalker Property Partners, said in a statement. “Our new fund is well-positioned to capitalize on these opportunities.”
Investments will include a mix of property types, including medical, senior housing, residential and commercial condos, retail, mixed-use, office and industrial, per the release. The team has already deployed capital to put a project in the Interstate 35 corridor under contract.
“SkyWalker Property’s platform and ability to fund investments will benefit our sponsor-partners, who are starting to do larger and more complicated deals,” SkyWalker Director of Acquisitions and Capital William Welder said in a statement. “For investors like us who specialize in opportunistic deals, we may be on the precipice of some attractive opportunities.”
Several opportunistic funds have been launched amid the growing risk of defaults and foreclosures. Just last week, Dallas-based Bradford Cos. announced a $100M fund aimed at value-add acquisitions across North Texas. 13th Floor Investments, led by Arnaud Karsenti, is managing a $300M fund targeting distressed properties in South Florida and beyond, according to The Real Deal.
SkyWalker’s fund will both acquire properties and provide joint venture private equity to owners facing capital shortages. The team expects the fund to be 100% invested by December 2025.
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