JPI announced May 5 a new corporate partnership with WayMaker Partners, a faith-based real-estate investment fund with a mission to provide exceptional risk-adjusted returns through the intersection of technology and community.
WayMaker brings its unique Tech and Community Enabled Value Add platform in partnership with industry leaders Apartment Life and RealPage, a news release said.
Community and technology are proven drivers of asset yields, and WayMaker sees the epidemic of loneliness and the underutilization of technology as market inefficiencies perfectly suited for their expertise.
WayMaker is currently targeting the acquisition of at least 10,000 apartment homes in the Dallas/Fort Worth metroplex within the next five years.
Brad Taylor and JPI Founder Bobby Page join the ranks of WayMaker’s investment committee, comprised of multifamily veterans from industry leaders Streetlights Residential, Greystar, Cushman & Wakefield, Crescent Communities and Advenir, the announcement said.
Together, the investment committee boasts more than 1 million active apartment homes managed, have led over 2,000 multifamily transactions, and in their executive roles oversee $100 billion in current portfolio value, bringing a combined 280 years of multifamily experience.
Through the partnership, JPI will integrate WayMaker’s technology and operational “love your neighbor” approach into its asset management portfolio to create a transformative living experience. It will also allow JPI to expand its relationship with Apartment Life, a nonprofit that helps apartment owners care for residents through relationship-building and WayMaker’s founding partner.
“As the most active multifamily developer in Dallas/Fort Worth, JPI utilizes deep market research and analysis to deliver best-in-class living experiences with efficiency and excellence,” JPI’s Brad Taylor said. “WayMaker’s platform will help us maximize this data-driven approach, providing the insights needed to serve our communities with intentionality while delivering real-time performance transparency to our investors.”
Keith Dunkin, WayMaker’s founder and former JPI associate, will spearhead the partnership’s integration with JPI.
Dunkin and his partners established WayMaker after more than 20 years of experience in multifamily, including serving as a senior vice president at RealPage, where he was responsible for managing the firm’s Asset Optimization solutions.
“WayMaker’s mission is to love on people where they live, and we believe the multifamily industry is at a renaissance of what technology can do for the resident living experience and to drive yield for investors,” Dunkin said. “In addition to acquiring an initial target of 50 DFW WayMaker communities, we will amplify JPI’s already resident-oriented communities to impact both residents and investors even further. I couldn’t be more honored to bring my experience home to JPI as we work to positively impact thousands of lives.”
JPI, headquartered in Irving, is a national developer, builder and investment manager of Class A multifamily assets across the U.S. and is the most active multifamily developer in Dallas-Fort Worth, with over 5,000 apartment homes under construction, the company said.
WayMaker Multifamily was launched in 2020 in close partnership with Apartment Life with the goal of transforming communities with the love of Christ in a fund that pursues compelling, risk-adjusted financial returns.