Waypoint Residential Purchases $102 Million Portfolio for New Trainee Housing Unit

Waypoint Residential, a realty financial investment supervisor that partners with personal financiers to acquire home residential or commercial properties, has actually established a different affiliate to broaden its student real estate company after going into the sector last year.

The affiliate, Waypoint Campus Real estate LLC, got off to a good start, buying four homes of a five-property student housing portfolio consisting of 2,638 beds from Blue Vista Capital Management for $102 million.

The freshly acquired residential or commercial properties include High View Location, serving the University of Texas at San Antonio; Maverick Location, serving the University of Texas at Arlington; Rebel Place, serving the University of Nevada at Las Vegas; and Spring Location, serving the University of North Carolina at Greensboro.

Waypoint is planning to close on the fifth and largest student-housing home in the portfolio next month.

Scott Lawlor, CEO of Waypoint Residential, announced that student real estate is now part of the business’s core business, broadening its focus in the rental housing sector.

“The addition of trainee housing aligns with our overall technique to diversify our item offerings within the rental real estate market, and we believe it provides excellent risk-adjusted opportunities,” said Lawlor.

Waypoint entered the trainee housing sector in 2016 when it got its very first three residential or commercial properties consisting of 1,122 beds for $58.3 million. With the conclusion of all 5 portfolio assets in this acquisition, Waypoint will have obtained 3,760 trainee housing beds for around $160 million.

Jeremy Pemberton, who formerly concentrated on acquisitions and sourcing capital for Waypoint Residential, has actually been named to lead the new Waypoint School Housing affiliate.

“The student housing sector continues to demonstrate strong principles, significantly enrollment growth and continued strong tenancy,” Pemberton noted, while adding he believes trainee housing has become a more noticeable property class with strong financier demand.

For more information on the transaction, see CoStar Sale Comp ID # 3882652.

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