Waypoint Residential has expanded its presence in the Midwest region with the acquisition of three conventional multifamily properties and one student housing property.
The properties include the Legacy at Poplar Creek, a 196-unit garden-style apartment community located in Schaumburg, Illinois; Two Itasca Place, a 70-unit class A property located in Itasca, Illinois; The Attleigh, a 184-unit garden-style apartment community in Columbus, Ohio; and Rockland West, a 500-bed purpose-built student housing property serving the University of Kansas in Lawrence.
The firm’s Midwest exposure includes nearly 1,000 units across Illinois, Ohio, Oklahoma and Kansas.
“The Midwest presents compelling investment opportunities that align well with our overall conservative investment philosophy,” said Scott Lawlor, CEO, Waypoint Residential. “Waypoint’s commitment to the region is part of an overall strategic plan to expand our footprint across the United States.”
Waypoint Residential made its first Midwest acquisition in 2015 and subsequently opened its Chicago office in 2016.
Columbus has a diversified economy and is home to several Fortune 500 companies. It benefits from strong renter demographics, with more than twenty percent of the population falling within the prime renter age group cohort of 20 – 34-year olds, and strong demand anchors, including the state capital and Ohio State University.
