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Waterton Expands into Ground-Up Multifamily Projects
Waterton said Wednesday it would diversify its investment strategy by investing in select multifamily ground-up developments, with a focus on joint venture opportunities with local/regional developers in growth markets where demand is predicted to outpace new supply.
The Chicago-based firm will continue its 25-year-plus history of investing in multifamily value-add opportunities while also targeting new development opportunities across the Southeast and Southwest.
“With our established track record in the value-add space and our experience with re-developments across markets, we believe the timing is right to expand into ground-up development,” said David Schwartz, CEO and chairman at Waterton. “Demand is clearly outstripping supply in certain markets and current conditions are making it more cost effective to build from the ground up.”
Waterton intends to focus on the construction of affordable (80% to 100% of area median income) garden style and mid-rise developments in well-located suburban markets and in select urban areas.
- ◦Sale/Acquisition
- ◦Development
