ATLANTA (Sept. 29, 2020) – RangeWater Real Estate announced today that Michael Hoy has joined the company as Director of Acquisitions for the Southwest. Hoy will oversee capital formation, investor relations and multifamily investment opportunities in markets that include Dallas, Austin, Denver and Phoenix.
Hoy joins Managing Directors Nick Wilhelmson and Kim Sperry, who oversee multifamily development efforts in Texas, Colorado and Arizona, and Senior Regional Director of Property Management Erica Herald, who leads the expansion of the firm’s property management business in the Southwest. Hoy’s focus on value-add acquisition opportunities, complemented by the existing development and property management business, rounds out RangeWater’s growth strategy for the region.
“Michael will be a catalyst in advancing RangeWater’s value-add portfolio throughout the Southwest region, particularly in high growth urban and first-tier suburban markets,” said Steven Shores, CEO and President at RangeWater.
“The lack of transaction volume in the Spring created pent-up demand and greater investment opportunities for this Fall,” adds Andrew Wittgen, Executive Managing Director. “Multifamily continues to be a strong real estate category, especially for retail and hospitality investors who are looking to diversify their portfolios.”
Since announcing its Southwest expansion plans in 2018, RangeWater has established a presence with ten properties, including Pinnacle Ridge, Ross + Peak, Flats at the Sawyer, Lofts at the Sawyer and The Ele in Dallas, Texas; The Venue Craig Ranch in McKinney, Texas; Eastside Station in Austin, Texas; The Bennett Baytown in Baytown, Texas; Commons at Hollyhock in Katy, Texas; and The Armory in Boulder, Colorado.
“RangeWater’s successful track record in the Southeast, deep relationships in the investment community and bullish expansion plans for the Southwest drew me to this role,” said Hoy, a Dallas native. “I’ve worked with the RangeWater team on a handful of investments in the past and their expertise and thoughtful approach to multifamily real estate is unparalleled. Being a fully integrated owner, operator and developer is something that makes RangeWater especially unique in the Southwest. I look forward to getting started and quickly growing RangeWater’s acquisitions footprint in the region.”
Hoy brings to the table over 13 years of real estate experience with acquisitions, asset management, dispositions, brokerage and marketing. Prior to joining RangeWater, Hoy was a vice president at Crow Holdings Capital where he focused on multifamily cradle to grave investing in the central and eastern U.S. and was involved in over $2B worth of transactions across the country. Hoy is an active member of National Multi-Housing Council and The Real Estate Council (Texas), where he completed an associated leadership class.
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About RangeWater Real Estate:
RangeWater is a fully integrated multifamily real estate company creating fulfilling experiences for its partners, clients, residents and employees across the Sun Belt. The Atlanta-based company has acquired and developed more than 26,000 multifamily units since its inception in 2006 representing in excess of $4.4 billion in total capitalization. RangeWater currently manages a balanced portfolio of over 50,000 multifamily units across 10 states. With offices in Atlanta, Dallas, Denver and Tampa, RangeWater targets high job growth markets with demand for new housing. For more information, visit LiveRangeWater.com.