WDG Finance, a subsidiary of Wingspan Development Group, has successfully closed its second fund since 2021. The $16 million WDG GP Fund II will be used to support the company’s multifamily development business in Illinois, Wisconsin, and Florida.
This new fund is nearly 40% larger than WDG’s first GP Fund and will have an average investment that is 50% higher. It will provide equity for five ground-up projects: The Henry at Harms Woods in Skokie, IL; The Whitt in Riverview, FL; Wekiva Ranch in Apopka, FL; The Pabst Farm Development in Oconomowoc,WI; and The Vue in Elk Grove Village,Illinois. Additionally,the fund will also offer preferred equity for NIC HEin Tampa Bay ,FL . All six properties are being developed through a partnership with Nicholas & Associates,a full-service contractor owned by Wingspan.
Currently,Wingspan has over $900 million worth of multifamily assets under management.This includes more than $350 million worth of stabilized assets,and approximately$500 million worth of entitled projects under development across various Chicago suburbs,Southeast Wisconsin,and Central Florida.
