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New investment fund plans to buy 10,000 D-FW apartments

Investor WayMaker Partners teams with Irving-based JPI and other industry members

A new property investment fund plans to buy at least 10,000 North Texas apartments during the next five years.

Dallas-based WayMaker Partners bills itself as a faith-based real-estate investment fund that intends to purchase older rental units in Sun Belt cities.

Founded in 2020, WayMaker plans to use technology and Christian community programs to serve its residents.

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The investor is partnering with major apartment owners and developers.

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Irving-based JPI — North Texas’ largest apartment builder — just announced a corporate partnership with WayMaker.

“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,” Keith Dunkin, WayMaker’s founder and former JPI associate, said in a statement. “In addition to acquiring an initial target of 50 D-FW WayMaker communities, we will amplify JPI’s already resident-oriented communities to impact both residents and investors even further.

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“I couldn’t be more honored to bring my experience home to JPI as we work to positively impact thousands of lives.”

JPI execs Brad Taylor and Bobby Page have joined WayMaker’s investment committee, which also has members from other apartment and real estate firms, including Streetlights Residential, Greystar, Cushman & Wakefield, Crescent Communities and Advenir.

“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,” Taylor said in a statement. “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.”

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JPI is currently building 5,000 apartment homes from its offices in Irving and California. The developer plans to start more than a dozen D-FW rental communities this year, including a larger share of properties aimed at moderate-income renters.