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Waypoint Residential Launches Waypoint Campus Housing Affiliate Following Acquisitions
Thursday 18 May 2017

18 May 2017 - Connecticut, US-based real estate investment firm Waypoint Residential, a vertically integrated real estate investment firm, has expanded its platform through the launch of its affiliate Connecticut, US-based student housing Waypoint Campus Housing LLC, the company said.
The company said it is including student housing as a strategy within its core business, which focuses on rental housing, to diversify product offerings within the rental housing market.
Waypoint additionally announced that Waypoint Campus Housing LLC recently completed the purchase of four properties of a five-property student-housing portfolio comprising 2,638 beds that it acquired from Chicago, US-based Blue Vista Capital Management, LLC, the real estate and asset management arm of Blue Vista Capital Partners, for USD 102m.
The newly acquired properties in the portfolio include High View Place, serving the University of Texas at San Antonio; Maverick Place, serving the University of Texas at Arlington; Rebel Place, serving the University of Nevada at Las Vegas; and Spring Place, serving the University of North Carolina at Greensboro.
The fifth property is slated to close in June 2017.
Waypoint entered the student housing sector in 2016 when it purchased three properties comprising 1,122 beds for an aggregate USD 58.3m.
With the completion of all five assets in this acquisition, Waypoint will have acquired 3,760 student-housing beds for approximately USD 160m.
Waypoint Residential, LLC has invested over USD 2bn across more than 20,000 multifamily and student housing units located in the South, Southeast and Midwest, US markets.
The firm is comprised of more than 60 professionals in six offices with senior management averaging over 25 years of real estate investment and management experience throughout the US.
Date Published: 18/05/2017
Target: Four US student housing properties, in Texas, Nevada and North Carolina
Country: USA
Deal Size: 102m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Vendor: Blue Vista Capital Management
Buyer: Waypoint Campus Housing