Waypoint Homes named managing director Gary Beasley as its new president and chief executive officer.
Beasley joined Waypoint in 2011 and played a major role in securing the
Also, Beasley played an instrumental part in obtaining a $245 million revolving credit facility provided by Citi that helps expand the size of the company’s portfolio of rental residences.
The mission of Waypoint Homes is to buy distressed single-family houses, renovate the units and then lease them to residents. Waypoint’s current portfolio includes more than 3,000 homes in five states, with the company looking to expand nationwide.
“Gary’s track record of building high growth companies combined with his investment and public company leadership experience makes him the natural choice to lead Waypoint as we continue expanding,” said Doug Brien, co-founder and managing director of Waypoint Homes.
Before joining Waypoint, based in Oakland, Calif., Beasley served as a partner with Geolo Capital where he helped orchestrate the firm’s investment into Joie de Vivre Hospitality, which is the second largest boutique hotel chain in the country.
Prior to this position, Beasley served as chief financial officer and then president of the ZipRealty. Under Beasley’s leadership, the Internet-based residential brokerage company grew from 40 to over 2,000 employees and executed a successful initial price offering.
Beasley’s supporting cast to manage Waypoint Homes includes Scott Gable, chief operating officer; Ali Nazar, chief technology officer; Nina Tran, chief financial officer; Colin Wiel, the other co-founder and managing director; and Brien.
Wiel said the firm more than doubled its assets under management in 2012 and expects to continue to grow this year.
“We’ve been operating effectively under a rather unconventional structure with three managing directors running the firm,” Wiel added.
“We understand that as we mature we need to adopt a more conventional structure, and we’re confident that this streamlined organizational structure is the right one to support that significant growth trajectory.”
