Waypoint Residential acquires the 196-unit Hamptons at East Cobb

Waypoint Residential, a leading apartment investment firm, has acquired The Hamptons at East Cobb (the Hamptons) in the suburban Atlanta submarket. The 196-unit apartment complex, which is 96% leased, was constructed in 1997. The purchase price was not disclosed. The Hamptons is located along Roswell Rd. Several major business districts including Buckhead, Cumberland/Galleria and Perimeter Center are located within 10 miles of the property. The Hamptons also has convenient access to downtown Atlanta via major highways and secondary roads. In addition to the Hamptons, Waypoint Residential has acquired a 223-unit apartment complex located less than 20 miles outside of Greenville, SC. The property, known as Garden District, was 96 percent occupied as of year-end 2012. The class A apartment complex was constructed in 2008. The purchase price was not disclosed. Led by real estate industry veteran Scott Lawlor, Waypoint Residential is a privately-held investment and management firm that acquires and operates apartment communities throughout the nation. The firm is headquartered in Greenwich, Conn., with offices in Atlanta and Boca Raton. Waypoint Residential owns and manages approximately 10,000 apartment units located in seven states. Waypoint Residential CEO Scott Lawlor said, "By closing out the year with these acquisitions, we maintain our momentum as the U.S. apartment market continues to experience positive fundamentals."