DW DW Real Estate Partners
Aerial view of a city with freeway interchange Aerial view of an industrial park Interior of a small-bay industrial building
DW Real Estate Partners
A private real estate investment firm, investing for its own account and for a select number of family offices and institutions.

Invest with conviction. Create enduring value. Compound.

$1.5B+ Transacted Owner-Operator Founded in 2023
The Firm

Long-term, value-oriented, hands-on.

DW Real Estate Partners acquires, develops, and operates commercial real estate, pairing institutional underwriting and risk management with an entrepreneurial approach to sourcing and execution. Our philosophy is simple: buy right, finance prudently, create enduring value, and hold as long as our thesis remains intact.

Through long-standing relationships with brokers, investors, partners, and tenants, we take concentrated positions across property types and across the risk spectrum. Our open-ended structure and institutional operating capabilities allow us to execute a business plan, then hold and compound tax-efficiently, recapitalize, or sell.

Approach

Endurance and scarcity.

Market & Asset Selection

Invest in supply-constrained markets with strong historical and projected fundamentals. Acquire assets that offer differentiated competitive advantages over time.

Monitor Replacement Cost

The foundation of a sound long-term investment is laid at acquisition. We seek a margin of safety, not just relative to market pricing, but to the asset’s intrinsic value.

Leverage Judiciously

Utilize modest leverage to enhance investment returns without putting properties at risk during inevitable periods of weak economic activity or constrained capital markets.

Embrace Cyclicality

Longer time horizons invite cyclicality. We embrace this reality and maintain control over exit timing so we can monetize assets only when their value has been maximized.

Values

What we value, and what we do not.

“Invert, always invert… where don’t we want to go, and how do you get there? Instead of looking for success, make a list of how to fail… avoid these qualities and you will succeed. Tell me where I’m going to die, so I don’t go there.”

Charlie Munger
Values
  • IntegrityWhat is right over what is easy, always, in every deal and relationship.
  • AlignmentIncentives matched to outcomes, with our partners, and ourselves.
  • Data-Driven ConvictionData tests our intuitions and produces variant perceptions.
  • Rigorous CraftsmanshipBlend the economic with the artistic.
Anti-values
  • Fee-Driven, Herd InvestingCapital is deployed because it should be, never just because it is available.
  • Short-TermismReal estate is not a lottery ticket. Compounding needs time.
  • Low Agency, High BureaucracyWe take responsibility, decide quickly, and reward results rather than effort.
  • Possibility Over ProbabilityDownside is underwritten first. Luck is not a strategy.
Investment Criteria

What we acquire.

Strategy
Distressed, opportunistic, value-add, and core-plus.
Property
Small and mid-bay industrial, manufacturing, R&D, and select other property types.
Markets
Southwest & Midwest.
Size
$5 to $50 million.
Marketing Process
Off-market, pocket listings, or broken sales.
Situations
  • Assets with a complex story and “hair” on them
  • Properties in need of repositioning, lease-up, or capital for deferred maintenance, capex, and tenant improvements
  • In-place income with upside optionality: entitlement, subdivision, or rezoning
  • Ground leases, leased fee and leasehold
  • NPLs, lender-owned assets, partnership disputes

Opportunities that meet these criteria may be sent to acquisitions@dwrep.com.

Enquiries

For private capital and institutions.

Most of the firm’s investors have come to us by referral. Investors interested in beginning a conversation may write to partners@dwrep.com.