Apartment investment firm Waypoint Residential announced Monday that it acquired Cypress Club at Woodmont in Fort Lauderdale, Fla.

Cypress Club was constructed in 1989 and the 164-unit community is currently 95% leased. The purchase price was not disclosed.

The apartment complex is located about six miles west of Interstate-95 and boasts easy access to numerous companies within Broward County.

Real estate veteran Scott Lawlor leads Waypoint Residential, which is a privately-held firm. It has offices in Greenwich, Conn., Atlanta, Boca Raton and Dallas.

The company owns and manages approximately 10,000 apartment units located in seven states.

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