Breakwater Companies is established on the principle of defying popular sentiment and generating above-average returns relative to underlying risk. Rather than simply deploying capital, we prioritize detailed planning and execution for a limited number of projects. We are driven to create the highest value to all stakeholders, including tenants, partners, and the communities in which we work, through the creation of assets that will stand the test of time.
Every property presents its own unique challenges and limitations, and we see this complexity as an opportunity to excel. To succeed in all parts of the business cycle, we remain flexible, embrace new ideas, and continuously re-evaluate our assumptions. We believe that, aside from integrity, a tailored approach that includes adjustments to product type, contract terms, deal structure, development planning, entitlement, and exit strategy is necessary for each real estate venture to achieve success.
We carefully select projects that we believe have the potential to produce outstanding results by implementing a more thoughtful development plan, engaging with stakeholders at a deeper level, and finding ways to differentiate ourselves from the conventional approach. This often leads us to pursue properties that other developers have shied away from due to apparent challenges or have ended up in distress. Our willingness to take on these projects and approach them differently is a critical factor in our ability to create value for our tenants, partners, and communities in which we work.
New construction or adaptive re-use development of institutional grade rental apartments
Infrastructure for bespoke mid-size communities in highly desirable areas with less than 100 lots
Opportunistic acquisition of distressed assets, distressed debt, or distressed equity recapitalization
Andrew is an award-winning real estate developer based in Annapolis, MD with experience in real estate development across the East Coast. In his career, he has successfully worked across multiple asset classes including multifamily rentals, condominiums, land development, adaptive reuse, retail, distressed asset re-position, and distress debt.
Prior to graduating from the University of North Carolina with a degree in History and City and Regional Planning, Andrew went to work for a Maryland-based nonprofit developer of affordable housing. Rising quickly to be a project manager, he was responsible for the acquisition, financing, and development or redevelopment of affordable housing complexes throughout the Southeast and upper Midwest utilizing GSE, HUD, or bond debt and Low‐Income Housing Tax Credits.
Before starting his own company, he worked with a large private equity fund to acquire and redevelop subsidized properties throughout the United States.
Since starting his own company, Andrew has been principal for over 20 projects with an aggregate value of nearly $250 million. Throughout his career, he has developed or is currently developing almost 2,300 units of multifamily housing, 300 residential lots, and tens of thousands of square feet of retail space
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