STAMFORD, CT – Waypoint Residential, a vertically integrated real estate investment firm, today announced that it has formally launched Waypoint Campus Housing LLC, a new Waypoint affiliate formed to specialize in and strategically grow Waypoint’s existing student housing business. Waypoint additionally announced that Waypoint Campus Housing LLC recently completed the buy of four properties of a five-property student housing portfolio comprising 2,638 beds that it bought from Blue Vista Capital Management for $102 million.

“We are excited to officially expand our platform to include student housing as one of our key strategies within our core business, which focuses exclusively on the rental housing sector,” said Scott Lawlor, Chief Executive Officer of Waypoint Residential. “The addition of student housing aligns with our overall strategy to diversify our product offerings within the rental housing market, and we believe it provides terrific risk-adjusted opportunities.”

Jeremy Pemberton will lead Waypoint Campus Housing. Pemberton was previously focused on acquisitions and sourcing capital for Waypoint Residential. New team members who will support the portfolio and robust deal flow are expected to be announced soon.

“The student housing sector continues to demonstrate strong fundamentals, notably enrollment growth and continued strong occupancy,” said Jeremy Pemberton, Waypoint Campus Housing’s Chief Executive Officer. “As a result, student housing has matured into a more discernable asset class with an ever-growing investor demand.”

The newly bought 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. While the assets have been well-maintained, a unique capital improvement program is plotted for each, including upgrades to the unit interiors, exterior and common area amenities.

“This portfolio represents an attractive acquisition with several compelling attributes that we typically look for in our student housing investments,” said Jeremy Pemberton. “The properties benefit from a comprehensive array of highly-desirable amenities and serve universities with strong projected enrollment growth. Additionally, the geographically diversified portfolio includes varying degrees of purpose-built student housing markets, from evolving ones to those that are more mature and established, making an attractive yield profile.”

Waypoint entered the student housing sector in 2016 when it bought three properties comprising 1,122 beds for an aggregate $58.3 million. With the completion of all five assets in this acquisition, Waypoint will have bought 3,760 student housing beds for approximately $160 million.

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VERNON HILLS, IL – Inland Real Estate Acquisitions announced that it negotiated and helped close the buy of The Commons at Town Center, an 85-unit multifamily property located in Vernon Hills, Illinois, a suburb located 35 miles north of Chicago.

Joe Cosenza, vice chairman of The Inland Real Estate Group, Inc. and president of Inland Real Estate Acquisitions, Inc., facilitated the transaction, with help from Brett Smith, assistant vice president associate counsel of The Inland Real Estate Group, Inc., on behalf of Inland Residential Properties Trust, Inc

Located at 1255 Town Center Road, near the intersection of Milwaukee Avenue and Half Day Road, the property is situated on 2.37 acres and was constructed in 2010. The Commons at Town Center consists of a six-tale building featuring 30 one-bedroom, 50 two-bedroom and 5 three-bedroom units with two below-ground parking garages, providing a total of 99 garage parking spaces. The property also features 31 additional outdoor parking spaces and community amenities including a fitness center and resident lounge. Each unit includes granite countertops, stainless steel appliances, nine-foot ceilings, full-size washers and dryers and private terraces.

In addition, the property features an extended first floor format with 10,609-square-feet of retail space occupied by five tenants, including Sam Martirano Salon & Spa, Hawthorn Dental Associates, Eight Piece Rolls, Design Studio Jewelry, LLC and Giuseppe’s Pizza Restaurant. There are also 42 outdoor designated retail parking spaces on the property.

“The Commons at Town Center’s prime location in this affluent northern suburb of Chicago provides residents with walkable access to transportation and shopping as well as a choice of several highly rated schools,” said Cosenza. “With more than 152,000 residents within a five-mile radius, the property is easily accessed from a major interstate and provides a unique retail destination for consumers, making it a prime example of the type of multifamily acquisitions we continue to seek out.”

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DURHAM, NC – Ginkgo Residential announced the acquisition, through its investment affiliate, of Willowdaile Apartments located in Durham, North Carolina, which transaction closed May 11, 2017.

The approximately 16.51-acre property is comprised of 201 one, two, and three-bedroom garden style apartments, and features a swimming pool, laundry facility and leasing office.

Willowdaile is located just 4 miles from the center of Duke University’s campus and 5 miles from downtown Durham. It is also located less than 2 miles from Croasdaile Apartments, which Ginkgo bought in mid-2016.

“Ginkgo Residential is excited to expand our presence in the Durham market. With the addition of Willowdaile Apartments, Ginkgo now has 473 units in close proximity of Duke University and downtown Durham. Willowdaile is also an brilliant fit with Ginkgo’s focus on workforce housing. We are very pleased to have the opportunity to add Willowdaile to our portfolio,” states Philip Payne, CEO of Ginkgo Residential.

Ginkgo Residential is an industry leader focused on combining our core business of providing reasonably priced, high quality workforce housing with energy efficient programs that are environmentally sensitive. Ginkgo Residential is a significant operator of apartment communities located primarily in the Southeast region of the United States.

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