Market Leaders Merge to Create Waterford Property Company
Newport Beach, CA (February 12, 2019) – John Drachman, founder of Stillwater Investment Group, and Sean Rawson, founder of The Waterford Group, have joined forces to create a new real estate firm under the brand Waterford Property Company.
The new entity, a diversified real estate investment and development company, brings together the strengths of Rawson and Drachman, who have collectively acquired or been part of more than $1 billion in commercial and residential projects throughout California and Arizona.
“Sean and I know each other’s strengths well as we’ve already completed 25 joint ventures together, acquiring existing multifamily value-add projects. We knew it was the right time to formally merge our firms. Our new platform will be a best-in-class operator for both residential and commercial properties delivering the highest value to our investors and tenants,” said Drachman.
Drachman and Rawson will leverage their deep industry relationships and expertise to position Waterford at the forefront of the growing live/work/play environments across the western United States with a strong focus in Southern California. Together, they are a well-capitalized and diverse real estate firm with Rawson leading the residential division and Drachman leading the commercial division.
The team will continue to acquire opportunistic real estate assets where the firm can use its unique skill set to create value for its investors by dramatically improving the assets. These assets include existing commercial and residential projects and land assemblages needing to be entitled for different uses. The team will also look to acquire and redevelop existing commercial properties into high-density residential or mixed -use development projects in in-fill markets that are dealing with large housing shortages. “The merger creates a very unique platform that provides us the ability to execute on large and complicated commercial and residential projects that utilize our strong expertise to meet our investment goals,” Rawson shared.
Waterford rounded out its executive team with Yashaar Amin as partner and COO. In this role, he will leverage his 15 years of institutional commercial real estate acquisition and asset management experience to provide further value to Waterford’s platform and investors. Phil Christian will continue his duties as vice president at the new firm handling all of the asset management and construction-related activities for the multifamily platform leveraging his 10 years of real estate experience. Christian has previously spearheaded the asset management for the firm’s previous 25 joint ventures together. Combined the firm now has over 55 years of collective experience among its senior team.
Waterford’s most recent multifamily acquisition in San Pedro underscores the firm’s focus on acquiring well-located real estate that is under-utilized. The team purchased a heavily vacant 36-unit coastal multi-family project in need of major capital improvements using its expert market knowledge and strong broker relationships. The firm will now institute a comprehensive improvement program to fully revitalize the asset creating value for its investors, future tenants and the City of San Pedro.
Since 2015, the partners’ experience includes acquiring more than 1.5 million square feet of commercial properties, the development of approximately 1,000 multifamily units and the renovation of more than 500 multifamily units all in core Southern California markets. Collectively, the firms have raised over $200 million in equity from a variety of capital sources including high net worth individuals, family offices, and institutional joint venture equity partners for it’s projects. The firm plans to further grow its investor base as it combines all its resources into one firm.
To find more information on Waterford Property Company, please visit it’s new website: www.waterfordco.com.
Waterford Property Company
“Developing Real Estate that enables people and businesses to Thrive”