Waterton
Waterton is a Chicago-based real estate investment and property management firm managing approximately $10.1 billion in multifamily and hospitality assets across 25+ U.S. markets on behalf of institutional investors, family offices, and financial institutions.
- Company typePrivate
- Founded1995
- HeadquartersChicago, United States
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What Waterton does
Waterton is a Chicago-based, vertically integrated real estate investment and property management firm co-founded in 1995 by David Schwartz and Peter Vilim. The company manages approximately $10.1 billion in real estate assets as of March 31, 2026 across 25+ U.S. markets, operating two principal segments: a national multifamily residential portfolio of 72 apartment communities, and the Outbound Hotels collection of lifestyle hotels in outdoor destinations including Jackson Hole, Mammoth Lakes, Stowe, Sedona, and Yosemite. Waterton executes value-add investment strategies through internalized property and construction management capabilities, supported by a proprietary service culture branded as Resitality®.
The firm raises capital from institutional investors, family offices, and financial institutions to fund value-add multifamily and hospitality investments in major U.S. markets, generating revenue through recurring investment management fees on committed and deployed capital plus property management and hospitality operating revenue. Waterton employs 5,001-10,000 people across its corporate offices and properties, with recent senior hires from Blackstone, Brookfield, and Greystar reinforcing its investment and operations leadership. The company uses standard real estate technology platforms (RENTCafe/Yardi for leasing) and does not disclose proprietary technology, patents, or AI/ML capabilities.
Recent strategic activity has been substantial, with over $1.1 billion deployed in trailing 12-month acquisitions and development, including the Misora acquisition in San Jose ($148.5M), Flair Tower in Chicago ($85M), Country Club Lakes in Jacksonville, and the Motif community in Woodland Hills. Waterton has also formed joint ventures with Barings to recapitalize Outbound Hotels and with The NRP Group to develop a 368-unit Las Vegas luxury project. Pricing on the rental side ranges from approximately $900 to over $21,000 per month depending on unit type and market, while investment management pricing is not publicly disclosed.
Waterton firmographics
Firmographics- Name
- Waterton
- Legal name
- Waterton Residential, LLC
- Website
- https://waterton.com
- Company type
- Private
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Waterton is a Chicago-based real estate investment and property management firm managing approximately $10.1 billion in multifamily and hospitality assets across 25+ U.S. markets on behalf of institutional investors, family offices, and financial institutions.
- Ownership category
- akta.pro rank
Where Waterton is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Waterton business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Investment Management Fees: Waterton earns fees from managing real estate assets on behalf of institutional investors, family offices, and financial institutions through value-add investment strategies.
- Property Management Revenue: Revenue from managing and operating multifamily residential properties and hospitality assets, including the Outbound Hotels collection.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Waterton product offering
Product offeringCore offering
Waterton is a U.S. real estate investment and property management company that manages a national portfolio of multifamily apartment communities and lifestyle hospitality assets (Outbound Hotels) on behalf of institutional investors, family offices and financial institutions. It executes value-add investment strategies and delivers vertically integrated investment management, property management and construction management services across 25+ U.S. markets with approximately $10.1 billion in real estate assets.
Product overview
Waterton is a real estate investment and property management company operating two primary segments: a multifamily residential portfolio of 72 apartment communities across 25+ U.S. markets, and Outbound Hotels, a collection of lifestyle hotels in outdoor destinations (Jackson Hole, Mammoth Lakes, Stowe, Sedona, Yosemite). The company executes value-add investment strategies and manages properties through vertically integrated investment management and property/construction management services. The portfolio includes residential properties under various brand names (The Belden Stratford, Flair Tower, Misora, Presidential Towers, and others) alongside hospitality properties operated under the Outbound Hotels brand. The Resitality® service model brings hospitality-inspired service culture across both segments.
Differentiator
Problem solved
Functional benefit
Brands
- Outbound Hotels: A collection of lifestyle hotels and experiences in beautiful outdoor destinations including Jackson Hole, Mammoth Lakes, Stowe, Sedona, and Yosemite. The brand focuses on adventure tourism and outdoor experiences.
Products and services
- Multifamily Residential Portfolio National portfolio of 72 multifamily residential apartment communities across 25+ U.S. markets offering rental apartments with various amenities and services to residents.
- Outbound Hotels Lifestyle hotel collection in outdoor destinations including The Virginian Lodge (Jackson Hole), Outbound Mammoth, Outbound Stowe, Outbound Sedona, and Outbound Yosemite, operated in partnership with CoralTree Hospitality.
- Investment Management Value-add real estate investment management services for institutional investors, family offices and financial institutions, focused on multifamily investments in major U.S. markets since 1995.
- Property & Construction Management Vertically integrated property and construction management platform specializing in renovations and operational improvements across Waterton's multifamily and hospitality portfolio.
Companies that use Waterton
Customer profileSegments3 records
Ideal customer profiles4 records
Waterton technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Waterton partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor and core.
- The Gettys GroupminorThe Gettys Group partnered with Waterton for the design of Outbound Sedona, featuring Pueblo-inspired architecture for the 138-room desert resort.
- Folkart ManagementminorFolkart Management collaborated with Waterton for the development of Lucida restaurant at Outbound Sedona resort.
- The NRP GroupcoreWaterton and The NRP Group are collaborating to develop South Valley, a 368-unit luxury apartment complex along Las Vegas Boulevard, scheduled for completion in mid-2027.
- CoralTree HospitalitycoreCoralTree Hospitality serves as the exclusive operating partner for Outbound Hotels portfolio including The Virginian Lodge in Jackson Hole, Wyoming, and the upcoming Outbound Yosemite and Outbound Sedona properties.
Scale indicators6 records
Recent moves11 records
Expansion highlights6 records
Waterton competitors and assessment
Company assessmentBroad incumbents
- Greystar Real Estate Partners: Greystar is the largest multifamily property manager and a major investment manager in the US, directly comparable to Waterton's combined investment + property management model. Stephanie Brock, Waterton's head of property management, previously led 50,000 units at Greystar.
- JLL (Jones Lang LaSalle): JLL's Capital Markets and Real Estate Investment Management segments compete with Waterton for institutional capital and offer comparable investment management services, though across a much broader asset class range.
- CBRE Investment Management: CBRE Investment Management is a major institutional real estate investment manager that competes for the same pension fund and family office capital as Waterton, with a much larger AUM but broader mandate.
Direct peers
- Lincoln Property Company: Lincoln Property Company is one of the largest multifamily managers and developers in the US, competing head-to-head with Waterton in major urban markets with a similar vertically integrated platform and third-party management services.
- Bozzuto Group: Bozzuto is a vertically integrated multifamily developer, owner, and manager with a hospitality-inspired service culture, directly mirroring Waterton's Resitality® model and value-add multifamily investment strategy on the East Coast.
- Related Companies: Related Companies is a national developer, owner, and operator of multifamily and mixed-use real estate with a value-add investment platform and branded property management, directly comparable to Waterton's vertically integrated approach.
- AvalonBay Communities: AvalonBay is a public multifamily REIT that develops, redevelops, acquires, and manages apartment communities in high-barrier markets, overlapping with Waterton's target metros and value-add renovation strategy.
- Equity Residential: Equity Residential is a major multifamily REIT operating in the same urban gateway markets where Waterton concentrates. Notably, CEO David Schwartz was previously VP of Acquisitions at Equity Residential.
Emerging players
- LPC (Lennar Multifamily) / LMC Investments: Waterton's new CIO John Gray helped scale LMC to $8B AUM at Lennar; LMC remains a comparable multifamily investment and development platform focused on rental housing in similar US markets.
Others
- CoralTree Hospitality: CoralTree Hospitality is Waterton's operating partner for the Outbound Hotels portfolio, providing comparable lifestyle and resort hotel management services at properties like Jackson Hole, Mammoth, and Stowe.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Waterton social profiles
Digital presenceWaterton financial estimates
Financial estimateRevenue estimate
Valuation estimate
Waterton leadership team
Management profileNumber of profiles
Profiles12 records
Waterton subsidiaries and ownership
Company hierarchySubsidiaries1 record
Waterton funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Waterton M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Waterton
What does Waterton do?
Waterton is a U.S. real estate investment and property management company that manages a national portfolio of multifamily apartment communities and lifestyle hospitality assets (Outbound Hotels) on behalf of institutional investors, family offices and financial institutions. It executes value-add investment strategies and delivers vertically integrated investment management, property management and construction management services across 25+ U.S. markets with approximately $10.1 billion in real estate assets.
Is Waterton a public or private company?
Waterton is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Waterton founded?
Waterton was founded in 1995. It employs 5,001 to 10,000 people.
Where is Waterton based?
Waterton is headquartered in Chicago, United States, in the North America region.
How does Waterton make money?
Two revenue lines are on record. Investment Management Fees are the primary driver. The others are property Management Revenue.
Who are Waterton's main competitors?
Broad incumbents on record are Greystar Real Estate Partners, JLL (Jones Lang LaSalle) and CBRE Investment Management. Direct peers are Lincoln Property Company, Bozzuto Group, Related Companies, AvalonBay Communities and Equity Residential. LPC (Lennar Multifamily) / LMC Investments is listed as an emerging player. CoralTree Hospitality is listed as an others.
Does Waterton have an API?
No public API is recorded for Waterton.