Waypoint Residential raises $50m in second round of funding
Waypoint Residential has announced that its subsidiary’s closed-end commingled Fund II has raised over $50 million in equity, representing one-fourth of the targeted raise, within 60 days of its launch.
Fund II follows quickly behind the closing of Fund I with $103 million in equity and marked the end of a highly active 2021 for Waypoint that totaled $1.94 billion in investment activity across the United States.
“The depth of our investment activity amidst continued economic fluctuations is reflective of the strength of our team, as well as our compelling development and funding plan,” said Scott Lawlor, CEO of Waypoint and the Waypoint general partner. “This activity also demonstrates the tremendous potential of ground-up developments in strong growth-markets, especially in Florida and key markets throughout the Sunbelt, such as Phoenix, Dallas and the Carolinas.”
Fund II is seeking to raise $200 million in total equity and will be used to continue t