Terra Verde Group, LLC (TVG) in a partnership with Wheelock Street Capital, LLC (WSC) acquired Boot Ranch on August 21, 2015 from Lehman Brothers Holdings, Inc., with 100% equity from the partnership.
Terra Verde Group, the operating partner, is a real estate investment firm focused on the purchase of opportunistic residential real estate assets. Principals Craig Martin and Mark Enderle have decades of combined experience in investments and development in the real estate marketplace and account for more than $6.5 billion of sales in real estate product.
Since 2009, Terra Verde has purchased finished lots, partially developed master-planned communities, entitled undeveloped raw land and mixed-use projects totaling almost 15,000 acres. TVG has over 30,000 units in Texas, Tennessee, Arizona and California currently in active development including the Lifestyle residential communities of The Grove (College Grove, TN) and Windsong Ranch (Dallas, TX).
The TVG Partners have extensive experience in luxury resort communities including the Ritz-Carlton Residences and Golf Club at Dove Mountain (Marana, AZ), The Landmark Golf Co. (CA), Angel Fire Golf Club (NM), Carlton Woods (Houston, TX) and Desert Mountain (Cave Creek, AZ).
Wheelock Street Capital is a private real estate investment firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul. Backed by established institutional capital with deep financial resources, the firm focuses on real estate investment opportunities throughout North America. The founders’ have extensive real estate investing experience in previous executive positions at Starwood Capital, Rockpoint Group and Westbrook Partners.
In addition to extensive capital markets and investment management expertise, Wheelock has developed deep internal operational and management capabilities in targeted asset classes to provide a competitive advantage in its chosen areas of focus that currently include Hospitality, Retail, and Residential Land & Homebuilding. Wheelock employs an experienced team of investment professionals with offices in Boston, New York, Greenwich, Tampa and the DC area.
Wheelock’s capital funding gives the firm the flexibility to pursue investment opportunities of all sizes, from single assets to corporate or portfolio investments of over $1 billion. Wheelock has raised four funds to-date totaling over $1.4 billion of equity, the latest of which closed in April of 2014 with $625 million in capital commitments from state pension funds, university endowments and other institutional investors and includes an investment horizon of 10+ years.