Case Study – Watermark Partners


Michigan-based Watermark Partners focuses exclusively on low-to-moderate income multi-family housing in the Midwest’s rust-belt. The company’s strategy is to generate consistent and high returns for investors by acquiring properties that have been poorly managed, were underpriced, or benefited from an upfront capital investment to improve rental income immediately and over the long term. Watermark’s funds span 4000 apartments across 10 cities, with a focus on secondary and tertiary markets.


Founded in 2014, the company established itself with the launch of its Fund 1 Portfolio, a friends and family fund including roughly 40 investors. Following a second fund of slightly greater size and scope, the company was ready to build on its success to reach an extended investor pool. It was during the funding cycle for its Fund 3 Portfolio offering that Watermark embraced CrowdStreet’s Sponsor Direct platform solution.

“We needed a CRM tool, a better workflow, and a place to store documentation,” explained Watermark Head of Investor Relations Tom Carroll. “We’d been using DocuSign, and it was very manual. As importantly, we needed a better way to communicate with investors by email. We started with a list of 100 people, but it grew so quickly, I began getting dinged by Google for spamming. It just was not viable.”

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