Waypoint Residential has acquired land for the development of five conventional multifamily projects in Texas and Florida, intended to include more than 1,350 units with a total capitalization surpassing $240 million. Each project will be a fully-amenitized, Class A community with top-of-market interior finishes.

Subsidiaries of Waypoint Residential recently sold three Waypoint-developed conventional multifamily communities to Fundrise for more than $200 million. Two of the communities are located in Florida and the third is located in Texas.

Waypoint Residential completed nearly $740 million of total acquisitions and property sales in 2020. Waypoint acquired five operating properties, initiated the ground-up development of three conventional multifamily projects, and participated in its first preferred equity transaction – activity totaling nearly $440 million. During the same period, Waypoint sold seven properties with an aggregate value in excess of $300 million.

Waypoint Residential concluded 2020 with the close of its first preferred equity investment. The investment in Trinity Lakes will be used to develop vertical and horizontal infrastructure on the final 149 undeveloped acres within the mixed-use section of this 1,600-acre transit-oriented master-planned community in Fort Worth, Texas.

These investments include expanding into the Northeastern and Western United States with projects in Hackensack, NJ and Denver, CO.

“The Walcott Jeffersonville is our second investment in the greater Louisville MSA and our first in Jeffersonville,” said Scott Lawlor, CEO.