The Apartment Acquisition platform is positioned now with the first acquisition in Houston closing in Q1 2017. Several other properties are in the pipeline and further acquisitions will be moved into diligence upon the closing of acquisition number one. Waterfall will be investing heavily in Houston, TX. CBRE recently issued a research report validating Waterfall’s position in Houston. The average price per unit is about $70 thousand and well below the stabilized value projected by Waterfall’s economist.
The community development business has come back to life with Waterfall moving forward with a asset in the State College, PA [MSA] and another in Lancaster, PA [MSA].
A Joint Venture is in due diligence with approximately 1,000 units in both Maryland and Virginia. At present the pipeline is over 1,300 units and a market value of over $400mm upon build out.
The services we provide make things happen for Waterfall and our Joint Venture partners. Our team has multiple generations of experience and over 100 years combined experience in all aspects of the business. The infrastructure is in place to implement and manage the key elements of our investments.
Waterfall Principal’s have over 100 years of creating partnership that work
Our Core Values and what that means to our Stakeholders
Quality Of Life
It’s carefree living in a welcoming, well-manicured neighbor-hood with happy, healthy residents that people have when they live in a community owned by Waterfall. We pay attention to the smallest details and make each resident secure knowing that they have a team of caring well trained professionals ready to solve a simple problem as simple as a leaky faucet or as heavy as digging out from a major blizzard.
The American Family is not the two parent two child family of Leave it to Beaver and Dorothy has left Kansas. In the real word life has challenges. Waterfall provides Tools for our residents. We work with the local supportive services providers to coordinate existing programs for our residents. If your job is shipped overseas, our caring staff can introduce you to a job training program. If your job in the oil industry is lost we will provide training options in Healthcare or another industry which provides a job for a sustainable future. We will organize the options our residents need and make sure the operators of the program are being delivered effectively.
This creates a culture within our neighborhoods that creates the quality of life that makes our business goals a reality for our residents and employees.
Housing Of The Future
We are looking into the housing industry of the future. We see a national decrease in the home ownership rates. President Clinton overreached in setting home ownership Goals of 60 percent. The real estate valuations increased and the bubble burst. With the “millennials” home ownership is less important. Our society will be more mobile. The American Dream of Home Ownership is less important to millennials than in prior years.
Technology will continue to foster this evolution in housing trends. We envision a society less dependent on a car. In the future we don’t own cars, we click Google and order the car we need for our road trip.
We are developing an Urban Housing platform. We see a move back to our nations urban areas as well as aging and declining housing stock in the suburbs and rural areas. This housing stock needs to be rebuilt and housing the American Family will remain the core of a healthy life. The housing we provide will be with this understanding.
We are focused on understanding these trends
OUR MANAGEMENT TEAM
We are dedicated to the Waterfall Core Values. Our principals have over 100 years combined experience. This is a team and as a team, we will rise to every challenge and always open our minds to new ways of delivering on our commitments. It is our obligation efficiently direct our resources and lead our peers to help solve our nation’s housing needs. We will serve this purpose, and provide above market returns on investment.
LET’S WORK TOGETHER
We invite you to become a part of the Waterfall Family