Waterton Company Profile

Background

Waterton is a privately held real estate investment and property management firm specializing in U.S. multifamily and hospitality properties. Founded in 1995 by David Schwartz and Peter Vilim, the company has grown to manage a portfolio valued at approximately $9.7 billion as of September 30, 2025. Headquartered in Chicago, Illinois, Waterton operates across more than 25 markets in the United States.

Key Strategic Focus

Waterton's strategic focus centers on executing value-add strategies to enhance the performance of multifamily and hospitality assets. The firm employs a vertically integrated platform, encompassing investment management, property and construction management, and hospitality operations. This integrated approach allows Waterton to effectively manage and improve properties, delivering superior returns to its investors.

Financials and Funding

As of September 30, 2025, Waterton's portfolio includes approximately $9.7 billion in real estate assets. In September 2024, the firm closed its Waterton Residential Property Venture XV fund with $1.73 billion in equity commitments from a diverse group of global institutional investors. This fund is one of the largest dedicated multifamily value-add funds in the United States.

Pipeline Development

Waterton's investment strategy includes both value-add acquisitions and ground-up developments. In February 2022, the firm announced plans to diversify its investment strategy by investing in select multifamily ground-up developments, focusing on joint venture opportunities in growth markets where demand is expected to outpace new supply. The firm has also made significant acquisitions, such as the G12, a 347-unit mid-rise apartment community in downtown Los Angeles, acquired in January 2025.

Technological Platform and Innovation

Waterton's vertically integrated platform allows for efficient management and enhancement of its property portfolio. The firm's approach includes property and construction management, as well as hospitality operations, enabling it to implement value-add strategies effectively.

Leadership Team

David Schwartz: CEO and Chairman. Co-founder of Waterton, Schwartz has been instrumental in the firm's growth and strategic direction.

Peter Vilim: Co-founder and Vice Chairman. Vilim has played a key role in Waterton's operations and investment strategies.

Michelle Wells: Managing Partner, Investor Relations. Wells leads investor relations and has been recognized for her contributions to the firm's fundraising efforts.

Market Insights and Competitor Profile

The U.S. multifamily real estate market is characterized by strong demand, particularly in urban and suburban areas with favorable job growth and transportation logistics. The market has experienced disruptions due to interest rate fluctuations and supply-demand imbalances, presenting both challenges and opportunities for investors.

Key competitors in the multifamily real estate investment sector include firms such as Shannon Waltchack, Davidson Homes, and Weichert Realtors. These companies operate in similar markets and may offer comparable investment strategies.

Strategic Collaborations and Partnerships

In March 2019, Waterton partnered with Waterford Hotel Group to strengthen and grow their hospitality portfolios. This collaboration combined Waterton's investment and asset management expertise with Waterford's operational success in hotel management.

Operational Insights

Waterton's vertically integrated platform provides a competitive advantage by allowing the firm to manage and enhance properties efficiently. This integration enables Waterton to implement value-add strategies effectively, differentiating it from competitors who may lack such integration.

Strategic Opportunities and Future Directions

Waterton's strategic roadmap includes expanding its portfolio through value-add acquisitions and ground-up developments in high-demand markets. The firm aims to leverage its integrated platform to capitalize on market disruptions and supply-demand imbalances, positioning itself to achieve future growth and success.