Chicago

Crain’s Chicago Business: Apartment Investor Expands Presence in Chicago

Waypoint Residential is adding more staff members to its local office as it prepares to build more properties in the Midwest.

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Connecticut-based Waypoint Residential is looking to build more apartments in Chicago. After first entering the city in 2015 with a six-story, 36-unit apartment project that’s currently under development at 851 W. Grand, the investment firm now wants to do more deals in the Midwest.

According to Crain’s Chicago Business, Waypoint Residential added another person to its two-person local office to oversee regional expansion, and plans to continue hiring employees in the city down the line. And the firm—which specialized in multi-family units and student housing—isn’t fazed by Chicago’s volatile real estate market.

“The apartment sector is a lower-beta sector,” said Waypoint Residential CEO Scott Lawlor in an interview with Crain’s Chicago Business. “We’re simply less exposed than an office building. The risk at the margin is not nearly the same… we’re not high-fivin’, but we’re not losing sleep, either.”

To read the original article, click here.