Westlight Capital Achieves $750 Million AUM in First 10 Months, Focuses on Multifamily

Westlight Capital, a real estate investment firm founded by Doug Faron and based in West Palm Beach, Florida, has quickly grown to $750 million in assets under management within just 10 months. The firm specializes in multifamily properties, with a portion of its portfolio dedicated to "special situations" investments.

Faron, who previously led Shoreham Capital and spent a decade at CIM Group overseeing $10 billion in real estate investments, brings extensive experience to Westlight. He noted his entrepreneurial drive and the importance of relationships in fundraising. His prior venture, Shoreham Capital, capitalized on the emerging build-to-rent (BTR) market, developing projects at cap rates significantly higher than traditional multifamily at the time.

As market conditions shifted with rising interest rates and high construction costs, Faron observed a change in risk-adjusted returns, making existing multifamily acquisitions more attractive than new development. This strategic adaptability is key for developers and investors navigating dynamic real estate cycles.