BOCA RATON, Fla.--(BUSINESS WIRE)--Waypoint Residential, a vertically integrated real estate investment firm focused on the U.S. rental housing sector, announced that it has acquired Capital Creek at Heritage, a new 214-unit class A apartment community located in Wake Forest, North Carolina.
Since 2011, Waypoint has invested in approximately 3,000 units representing 13 conventional multifamily and student housing properties throughout North Carolina.
“Capital Creek at Heritage is a terrific addition to our diversified portfolio of conventional multifamily, student housing and senior housing properties,” said Scott Lawlor, Chief Executive Officer, Waypoint Residential. “This acquisition demonstrates Waypoint’s ability to capitalize on compelling opportunities across the risk spectrum.”
Capital Creek at Heritage is a garden-style property located 15 miles north of downtown Raleigh in the Heritage at Wake Forest master planned community. This neighborhood provides residents with highly ranked schools, parks, an array of restaurants and retail, greenway linked trails and bike paths, as well as golf, swim and tennis clubs. The location offers convenient access to the Research Triangle Park and employment and entertainment centers in and around the Raleigh-Durham and metro areas.
Raleigh-Durham has consistently ranked among the nation’s fastest growing metro areas. The Research Triangle Park, a key driver for the market, is the number one research park in the United States and is comprised of more than 250 companies across a diverse array of industries.
“Raleigh-Durham is a dynamic and thriving MSA, and one of our highest ranked markets due to its outstanding demographic profile and fundamentals,” said Jeremy Pemberton, Chief Acquisition Officer, Waypoint Residential. “We expect to continue to be very productive in the area for both acquisitions and development projects.”
Michael Bippus, Managing Director, oversees Waypoint’s acquisitions efforts in the region.
About Waypoint Residential
Waypoint Residential, LLC (“Waypoint”) is a vertically integrated real estate investment firm specializing in rental housing. With six offices nationwide, the company acquires and develops conventional multifamily, student housing and senior housing properties throughout the United States. Founded in 2011, Waypoint’s real estate investment activity totals approximately $2.8 billion across more than 21,000 units.