From Pop Tarts to $9.5 Billion in Real Estate Assets, Waterton Marks Three Decades of Growth, Leadership and Impact in Multifamily and Hospitality Real Estate<\/i><\/p>\n
(October 21, 2025 – Chicago, IL) –<\/b> Waterton<\/a>, a national real estate investor and operator, is celebrating 30 years of real estate investment and operations. The firm that began with a meeting between two like-minded executives over a box of strawberry Pop Tarts, has grown into a nationally recognized multifamily and hospitality real estate owner and operator with a portfolio valued at $9.5 billion.<\/p>\n “When I look back on the last thirty years, Waterton has been so much more than an investment and property management firm.” said David Schwartz, CEO and Chairman at Waterton. “I’m extremely proud of the culture we have built and the dedication and high caliber of the people on our teams. From the very beginning, we have been committed to providing great places to live and work and great results for our investors and partners. Thirty years later, I’m happy to say that we remain steadfast in that mission – it’s a foundation that will carry us forward for decades to come.”<\/p>\n David Schwartz and Peter Vilim founded Waterton in 1995 based on a shared entrepreneurial spirit. The partnership was a perfect fit, matching Mr. Schwartz’s experience in acquisitions honed at Equity Residential Properties Trust and AMLI Realty Co., where the pair first met, with Mr. Vilim’s operational experience and pragmatic approach to business. <\/p>\n A year after the storied Pop Tarts meeting, they made their first acquisition — a multifamily asset in Austin, TX – and, soon after, the firm closed its first $9.2 million fund. Over the last three decades, Waterton has continually evolved in strategy and grown in size. The firm’s multifamily portfolio currently includes 82 properties in 20 states totaling more than 30,300 units. <\/p>\n Expanding Horizons<\/b><\/p>\n In 1998, Waterton expanded into construction and property management, and by 2002 the firm had surpassed $1 billion in assets under management. In 2007 the company acquired Presidential Towers in the largest multifamily deal in Chicago at the time. Based on this rapid expansion, Mr. Schwartz and Mr. Vilim realized the firm had outgrown its “lean and mean” roots and launched Waterton Residential with vertically integrated management, design and construction capabilities. In the following years, Waterton’s funds continued to grow incrementally, culminating in the closing of their latest $1.73 billion Venture XV fund in 2024. The firm has since entered in to ground up development in 2022, and mezzanine\/preferred lending in 2024.<\/p>\n Over the years, Waterton has developed an approach to property management and operations that focuses on bringing the best of a hotel experience to their apartment communities, providing a higher level of hospitality and service to residents they call “Resitality®<\/sup>.” <\/p>\n Waterton’s hospitality-oriented approach lead them into new territory in 2023, with the launch of its lifestyle hotel brand, Outbound Hotels. The company has since acquired hotel properties near adventure travel destinations in Jackson Hole, WY; Oakhurst, CA near Yosemite National Park; Stowe, VT; Mammoth Lakes, CA; and, Sedona, AZ, punctuating Mr. Schwartz’s passion for outdoor adventure. <\/p>\n Alongside the company’s expansion, Mr. Schwartz has established himself as an influential leader in the broader multifamily real estate space. He served as chairman of the National Multifamily Housing Council from 2020-2022, one of the most dynamic and challenging periods in recent history. In addition to providing testimony before Congress on the need for rental assistance at the height of the pandemic, Mr. Schwartz remains a sought-after expert on housing matters across the country. <\/p>\n In 2022, Mr. Schwartz was recognized, along with Mr. Vilim, for Outstanding Leadership in Real Estate by The Real Estate Center of DePaul. He was also recognized as a Multifamily Influencer by GlobeSt.com in 2019 and 2021 and was named “Executive of the Year” in 2023 by Multifamily Executive, a leading industry publication. Most recently, Schwartz was included among Crain’s Chicago Business’ “Whos’ Who in Chicago Business” class of 2025. <\/p>\n Cultural Evolution … The Waterton Way<\/b><\/p>\n Camaraderie and integrity set the tone for Waterton’s strong company culture. The Waterton Way, the firm’s cultural cornerstone of values, champions honest communication and collaboration with accessibility to senior management giving associates the opportunity to talk through issues while embracing their different perspectives and having fun along the way. The five Waterton Way Tenets – Be Kind; Own It; Get It Done; Listen & Talk and Have Fun – promote accountability and integrity with a focus on results and a positive company culture that reflects the priorities of the company. <\/p>\n “Just as we want our residents to love where they live, we want our associates to love where they work and to feel heard, valued and empowered to own their career growth and personal achievements,” said Vilim. “That’s what we call ‘The Waterton Way.’ We treat each other with kindness and respect. We trust our colleagues and appreciate their expertise and hard work. We teach and develop our associates to empower others to achieve their goals.”<\/p>\n A Strategic Approach to Giving Back<\/b><\/p>\n Mr. Vilim announced his semi-retirement, assuming the role of vice chairman in January 2017 to concentrate on working with philanthropic and civic organizations focused on eliminating housing insecurity and providing attainable housing for all. He continues to serve on Waterton’s Leadership, Investment and Valuation Committees.<\/p>\n In 2017, Waterton launched "Aligned," an employee-led philanthropic committee designed to align its philanthropic efforts with its business while inspiring employees to contribute to causes that reflect the company's values. It’s a mission that goes beyond financial support. The program encourages associate volunteerism and community-centric endeavors that add value to the lives of its associates and the communities they serve. <\/p>\n “It’s humbling to see how far we’ve come,” said Mr. Vilim, who is personally involved in supporting charitable organizations including All Chicago and Inspiration Kitchen. “Waterton has always focused on establishing a lasting legacy of community investment and philanthropy and I’m so grateful to see our efforts bringing relief to those who need it most.” <\/p>\n Mr. Vilim has been recognized for his considerable philanthropic work with organizations in the Chicago area, receiving the Norman H. Stone Award from All Chicago in 2020, and the Fr. Phill Marquard Legacy of Hope Award from Franciscan Outreach in September of this year. <\/p>\n As part of the Aligned program, the firm established the Waterton Philanthropic Fund in 2017. This Donor Advised Fund (DAF) consolidates the charitable contributions made by individual Waterton associates, fostering firm wide collaboration. The DAF is Waterton’s primary source of gifts and sponsorships, and, since the fund’s inception, Waterton has raised over $11.4 million in support of initiatives such as homelessness prevention, supportive housing and other social impact causes. <\/p>\n Waterton also established the Adrienne Smith Sarcoma Research Fund, a permanent endowment at the Northwestern Memorial Foundation, in honor of a long-time Waterton associate who succumbed to sarcoma in 2019.<\/p>\n Looking Ahead<\/b><\/p>\n Waterton’s dedication to finding the good and leaving it better has been recognized with honors including Kingsley Tenant Satisfaction Awards for Excellence across multiple properties; the National Association of Home Builders Multifamily Pillars of the Industry Award for Best Interior Merchandising and the Chicago Tribune’s Best Places to Work award from 2022 through 2024.<\/p>\n “Thirty years is a milestone — but it’s also a springboard. We’re proud of what we’ve built, and even more excited for what lies ahead,” said Schwartz. “With our mission as our compass and our vision as our guide, the next chapter promises to be our most exciting yet.”<\/p>\n ###<\/p>\n About Waterton:<\/b><\/p>\n Waterton is a real estate investment and property management company with a focus on U.S. multifamily and hospitality properties. Founded in 1995, Waterton executes value add and credit strategies and manages a national portfolio of properties on behalf of institutional investors, family offices and financial institutions. Waterton is privately held and is headquartered in Chicago with regional teams throughout the United States. As of June 30, 2025, Waterton’s portfolio includes approximately $9.5 billion in real estate assets. Visit Waterton’s website: www.waterton.com<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":" From Pop Tarts to $9.5 Billion in Real Estate Assets, Waterton Marks Three Decades of Growth, Leadership and Impact in Multifamily and Hospitality Real Estate (October 21, 2025 – Chicago, IL) – Waterton, a national real estate investor and operator, is celebrating 30 years of real estate investment and operations. The firm that began with… <\/p>\n