1991: Ewoud Swaak starts real estate brokerage firm immediately after graduating from college.
1994: Swaak forms Westplan Bouwadviseurs in The Netherlands to develop urban residential projects.
1996: Westplan invests in first U.S. residential developments project in Athens, GA (River Club Aparments) with a select group of high net worth individuals.
1998: Westplan opens first U.S office in Jacksonville, FL and has three projects under management.
2000: Westplan Bouwadviseurs is sold (completed 27 projects between 1994 and 2000). Westplan solely focuses on U.S. investments and has 10 projects and $17 million under management.
2002: Swaak moves to the U.S. and relocates U.S office to Atlanta, GA. Westplan has 10 employees.
2007: Westplan has raised $245 million since 1995 and has $145 million under management.
2007: First institutional fund formed - raised $100 million for multifamily investments.
2010: Westplan begins investment in grocery-anchored retail properties and retail property management.
2011: Completed the recapitalization of the majority of its apartment portfolio by raising approximately $70 million in additional equity and over $200 million in new debt.
2013: Westplan owns and manages 8,300 apartment units, 750,000 sq. ft. of commercial real estate, and employs 22 people. Over it's life the company has invested in 15,000 units realizing a return for its investors on sold assets of 18% IRR.
2014: Westplan starts to develop its own apartment properties and starts construction on two projects.
2015: After selling many properties Westplan owns a stabilized portfolio of 5,447 apartments and 1,729 apartments under construction or lease-up. The average IRR realized for its investors on disposed apartment properties is 18%.
2016: Westplan owns a stabilized portfolio of 5,088 apartments. The average IRR realized for its investors on disposed apartment properties is 17%.