Goldman Sachs Names Waypoint Homes Co-Founders Among Top 100 Entrepreneurs of 2012
Awards herald companies that reshape their industries and make the world better through innovation
Oakland, CA (PRWEB) October 29, 2012
Doug Brien and Colin Wiel, co-founders of Waypoint Homes, are among the top 100 Entrepreneurs of 2012 recently named by Goldman Sachs at the invitation-only Builders & Innovators Summit in Newport Beach, CA.
With 250 employees and 2,500 homes, Waypoint is a fast-growing pioneer in the REO to rental industry. The company made headlines in December 2011 with the announcement of a significant equity investment from Menlo Park-based GI Partners, and again in October 2012 with the announcement of a $245 million financing facility with Citi.
“We're very proud of the innovative technology platform we've built and gratified that Goldman Sachs has recognized our approach to reinventing renting as a creative and effective solution to our nation's housing crisis,” said Colin Wiel. Doug Brien added, “Our unique approach to acquiring blighted homes and converting them into high quality rental properties has helped to define a new and growing industry, and these awards are a great credit not only for us but for all Waypoint employees, who have worked tirelessly to create quality homes for our residents.”
"We are honored to have Doug Brien and Colin Wiel join us as two of the top 100 most innovative entrepreneurs at this inaugural event," said David Solomon, co-head of investment banking at Goldman Sachs. "This gathering was the first of its kind, bringing together emerging entrepreneurs from a diverse set of industries with more seasoned entrepreneurs to discuss how to build great and enduring companies that reshape their industries and make the world better through innovation."
Waypoint Homes works with local realtors and contractors in the regions where it operates to purchase, renovate, and rent single-family homes. Residents can take advantage of the company's trademarked Lease Plus Rewards® program, qualifying by completing a personalized Financial Fitness consultation and earning points during their lease term for paying their rent on time, maintaining their home, and completing additional financial education seminars. At the end of the lease term, they can convert their “Waypoints” toward the purchase of any home in any market where Waypoint does business, exchange the value in cash or choose from a variety of different upgrades to their home provided they are current on their rent.
About Waypoint Homes: Based in Oakland, Calif., Waypoint Homes (http://www.waypointhomes.com) has created a next-generation real estate company with an innovative business model to help address the lack of liquidity contributing to the prolonged U.S. housing crisis. The Waypoint solution centers on buying distressed single-family houses, renovating them, and then leasing them to residents via innovative leasing programs that are designed to provide a path to future home ownership for the residents. A leader in the emerging REO-to-rental industry since its founding in 2008, Waypoint has acquired more than 2,500 homes in California, Arizona, Illinois, and Georgia and is rapidly expanding nationwide.
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