BOCA RATON, Fla.–(BUSINESS WIRE)–Waypoint Real Estate Investments completed nearly $740 million in property acquisitions and sales in 2020. Waypoint acquired five operating properties, launched development on three conventional multi-family projects and participated in its first equity transaction privileged – an activity totaling nearly $440 million. During the same period, Waypoint sold seven properties with a total value of over $300 million.

“I am pleased to say that while the pandemic has had a major impact on the real estate industry, Waypoint’s extensive experience in acquiring, developing and operating multi-family properties has enabled us to capitalize on market conditions. in the rental housing sector and continue to grow our portfolio,” said Waypoint CEO Scott Lawlor.

In 2020, Waypoint acquired four operating properties located throughout Florida and one in Dallas, Texas. Two parcels were also acquired in Port St. Lucie, Florida, one of which is located in an Opportunity Zone, and one parcel in Augusta, Georgia, for the development of Class A garden-style multi-family communities.

Leveraging the company’s existing infrastructure and extensive industry relationships, Waypoint launched its preferred stock program in late 2020. The first preferred stock transaction closed in December and was provided capital for the horizontal and vertical development of the remaining 149 acres of mixed-use land. in a planned, transit-oriented development in Fort Worth, TX.

Among the properties divested in 2020 were a property developed by Waypoint in Sarasota, Florida, as well as six other properties located in Georgia, Kentucky, North Carolina and Tennessee.

“The 2020 disposals are representative of Waypoint’s focus on value creation through rental property development and hands-on asset management,” Mr. Lawlor said. “In 2021, we have a strong development pipeline and we look forward to seeing this pipeline grow throughout the year.”

About Waypoint Real Estate Investments

Waypoint Real Estate Investments (“Waypoint”) is a vertically integrated real estate investment firm specializing in the rental housing sector. Founded in 2011 and with four offices nationwide, the company acquires, develops, operates and finances multi-family rental properties across the United States, with a focus on the Sunbelt region. Waypoint’s real estate business exceeds $4 billion in more than 28,000 units.

Previous

Waypoint Real Estate Investments Announces Closing of First Preferred Equity Investment

Next

New York real estate developers flock to Miami as the Big Apple struggles

Check Also