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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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