Traditional GP/LP structure utilizing market-rate debt; Loan assumptions on a case-by-case basis.

Each property has unique yield requirements that correspond to its risk-adjusted returns, taking into account asset quality and location.
Waterman targets submarkets with strong population and employment growth, proximity to employment centers and retail, and high barriers to entry.
Additionally, they seek properties that are mismanaged, distressed, or in need of light renovations or major upgrades, and that can be acquired below replacement cost.
Each value-add business plan varies, but the overarching goal is to provide quality housing at a discount compared to newer Class A communities in the submarket.

Arizona, Florida, Georgia, Nevada, North Carolina, Texas