WICHITA, KS—WaterWalk Hotel Apartments, hotelier Jack DeBoer's fifth national brand, has only been up and running for a little more than a year, but it continues to rack up successes. The Wichita-based firm has just signed an agreement with Henley, a UK-based private equity real estate firm, to construct and open five WaterWalk franchises across Florida, North Carolina, and New York.

As part of the $100 million agreement, the first investment in the franchise by an overseas investor, Henley has selected individual sites in Albany, Charlotte, Fort Lauderdale, and North Orlando, with construction starts slated for January 2016. And this deal is just the first of several between WaterWalk and Henley.

“They came to us and wanted to start with sites on the Eastern Seaboard,” David Redfern, president of WaterWalk's real estate development and franchising groups, tells GlobeSt.com. But once the partners finish the first five, they plan to put together similar deals that will help the new brand, which combines apartment living with hotel services, expand even further across the US.

“Europeans really understand our product,” Redfern adds. “In Europe, it's not unusual to see this combination of apartments and hotels; in the US we have tended to segregate them.”

DeBoer also founded Residence Inn, Summerfield Suites, Candlewood Suites, and Value Place, and this long and successful track record boosted Henley confidence in the WaterWalk concept. WaterWalk opened the doors to its first site in 2014, and the Wichita location reached full occupancy within just seven months.

WaterWalk guests can choose to rent for just one night or lease for a year or longer, with an all-inclusive bill for utilities, TV, internet, phone, and concierge services. For a full-service package, housekeeping, fully-furnished apartments, and breakfast are also provided.

This deal also represents Henley's first transatlantic agreement, following the company's recent light industrial acquisitions in the Netherlands and Germany, which were its first international deals. The firm currently holds around £600 million in assets under management.

In addition to Henley's five sites, construction will also begin in 2015 on new WaterWalk Hotel Apartments complexes in Louisville, Denver, Raleigh, Tulsa, and San Antonio.

According to Redfern, “WaterWalk's versatility as a hybrid property type gives investors and franchisees an unmatched opportunity in the real estate industry by providing the strong revenue potential associated with upscale extended-stay hotels and the capital structure and valuation of an apartment.”