Wrightwell Partners with Bain Capital and Saluda Grade for Major U.S. Housing Investment
In a significant move aimed at addressing the housing needs of lower- and middle-income families in the United States, Wrightwell, previously known as Vantage, has announced a strategic partnership with Bain Capital and Saluda Grade. This collaboration is set to invest up to $300 million into the development of single-family rentals (SFR) and build-for-rent (BFR) housing, making it a pivotal player in the U.S. housing market.
Wrightwell, recognized for its vertically integrated real estate platform, provides a comprehensive range of operational and investment services tailored to both captive capital partners and third-party clients. With its latest funding round successfully closed, the company is now poised to expand its operational reach in the real estate sector.
“We are excited to work with Bain Capital and continue our strong relationship with Saluda Grade,” stated Anthony DePalma, Co-Founder and CEO of Wrightwell. “Their extensive investment experience in U.S. housing will greatly enhance our capabilities to meet the critical housing demands in the country.” This partnership not only strengthens Wrightwell's operational foundation but also equips it with a wealth of expertise necessary to navigate the complexities of the real estate market.
Bain Capital, a respected name in private equity and investment management, brings its vast resources and knowledge to this partnership, focusing on creating affordable housing solutions. Saluda Grade, known for its expertise in alternative asset management, will complement this initiative by providing insights into real estate debt and equity. Together, these firms aim to leverage their strengths to enhance Wrightwell's operational capacity and foster sustainable housing solutions.
The newly formed alliance will concentrate on populating the U.S. housing landscape with affordable options, specifically designed for those underserved in today’s market. “Continuing to innovate and adapt to changing market conditions is crucial,” noted Brad Hartung, Senior Portfolio Manager at Saluda Grade and board member at Wrightwell. This collaborative effort aims to address the extensive gaps that exist within the real estate sector, particularly for low- and middle-income households that struggle to find adequate housing.
Furthermore, to support Wrightwell's ambitious growth strategy, the company has made several key leadership appointments. Chris Poston has been named Executive Vice President of Property and Asset Management, bringing financial acumen from his previous tenure at Rothesay Life. Mark Woodling, formerly of eXp, will serve as EVP of Brokerage in Dallas, while Jonathan Salyer, with experience from Darwin Homes, takes on the role of EVP of Construction in Phoenix. Lastly, Erin Taylor joins as EVP of Finance and Accounting, having previously worked at Fundrise.
Wrightwell's rebranding from Vantage signifies its evolution as a comprehensive service provider in the real estate market, enhancing its focus on delivering a broader range of solutions to clients in this sector. Established initially in 2021 as an SFR asset originator, the company has transitioned into a robust real estate operating and investment platform, emphasizing its commitment to addressing the housing crisis.
Headquartered in Atlanta, Georgia, Wrightwell operates in several states including Arizona, Georgia, North Carolina, South Carolina, and Tennessee. The firm plans to further expand its Construction, Brokerage, Asset and Property Management divisions into ten additional markets over the coming year. This strategic growth aligns with their mission to enhance the availability of affordable housing options, providing valuable services across the spectrum of real estate.
As Wrightwell embarks on this significant venture, it reaffirms its commitment to filling the crucial void in the market, ensuring that affordable housing is within reach for thousands of families across the United States. With the backing of established partners like Bain Capital and Saluda Grade, the prospects for this initiative are promising, signaling a new dawn in the search for accessible housing solutions.
Wrightwell, recognized for its vertically integrated real estate platform, provides a comprehensive range of operational and investment services tailored to both captive capital partners and third-party clients. With its latest funding round successfully closed, the company is now poised to expand its operational reach in the real estate sector.
“We are excited to work with Bain Capital and continue our strong relationship with Saluda Grade,” stated Anthony DePalma, Co-Founder and CEO of Wrightwell. “Their extensive investment experience in U.S. housing will greatly enhance our capabilities to meet the critical housing demands in the country.” This partnership not only strengthens Wrightwell's operational foundation but also equips it with a wealth of expertise necessary to navigate the complexities of the real estate market.
Bain Capital, a respected name in private equity and investment management, brings its vast resources and knowledge to this partnership, focusing on creating affordable housing solutions. Saluda Grade, known for its expertise in alternative asset management, will complement this initiative by providing insights into real estate debt and equity. Together, these firms aim to leverage their strengths to enhance Wrightwell's operational capacity and foster sustainable housing solutions.
The newly formed alliance will concentrate on populating the U.S. housing landscape with affordable options, specifically designed for those underserved in today’s market. “Continuing to innovate and adapt to changing market conditions is crucial,” noted Brad Hartung, Senior Portfolio Manager at Saluda Grade and board member at Wrightwell. This collaborative effort aims to address the extensive gaps that exist within the real estate sector, particularly for low- and middle-income households that struggle to find adequate housing.
Furthermore, to support Wrightwell's ambitious growth strategy, the company has made several key leadership appointments. Chris Poston has been named Executive Vice President of Property and Asset Management, bringing financial acumen from his previous tenure at Rothesay Life. Mark Woodling, formerly of eXp, will serve as EVP of Brokerage in Dallas, while Jonathan Salyer, with experience from Darwin Homes, takes on the role of EVP of Construction in Phoenix. Lastly, Erin Taylor joins as EVP of Finance and Accounting, having previously worked at Fundrise.
Wrightwell's rebranding from Vantage signifies its evolution as a comprehensive service provider in the real estate market, enhancing its focus on delivering a broader range of solutions to clients in this sector. Established initially in 2021 as an SFR asset originator, the company has transitioned into a robust real estate operating and investment platform, emphasizing its commitment to addressing the housing crisis.
Headquartered in Atlanta, Georgia, Wrightwell operates in several states including Arizona, Georgia, North Carolina, South Carolina, and Tennessee. The firm plans to further expand its Construction, Brokerage, Asset and Property Management divisions into ten additional markets over the coming year. This strategic growth aligns with their mission to enhance the availability of affordable housing options, providing valuable services across the spectrum of real estate.
As Wrightwell embarks on this significant venture, it reaffirms its commitment to filling the crucial void in the market, ensuring that affordable housing is within reach for thousands of families across the United States. With the backing of established partners like Bain Capital and Saluda Grade, the prospects for this initiative are promising, signaling a new dawn in the search for accessible housing solutions.
Topics General Business）
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