While the feds and the banks continue to sit on their hands when it comes to addressing the backlog of foreclosed homes, an Oakland real estate investment company is doing something positive about it – and getting richly recognized for its efforts.

Waypoint Real Estate Group, which buys, renovates and rents out distressed single-family homes, primarily in hard-hit Contra Costa and Solano counties, has just received a capital infusion worth $250 million from GI Partners, a private equity firm headquartered in Menlo Park.