3G Capital Advisors LLC, a real estate advisory firm and private placement sponsor, has formed a joint venture with Watermark Residential called Watermark 3G Partners LLC.
The joint venture will focus on Class A multifamily development in stable growth markets across the United States that have demonstrated a need for additional multifamily housing, the companies said.
Watermark 3G Partners currently has plans to develop six Class A multifamily communities in Colorado, Arizona, Michigan, Missouri, and Alabama.
“Our combined organizations bring together specialized expertise in multifamily real estate development, construction, management and finance with a singular focus on delivering high quality projects for the benefit of the communities and partners with whom we work,” said Christopher Hilbert, chief executive officer of 3G Capital Advisors.
Since 2010, Watermark Residential has constructed more than 40 projects totaling more than 10,000 multifamily units. The company focuses on developments in areas experiencing rapid job growth, increased rental demand, and new supply barriers.
3G Capital Advisors was formed in January 2019 and provides advisory services, product development and real estate advisory services.