Waterton Residential Expands, Acquires Portfolio

By Natalie Dolce

Print Email Share Reprints News Tip? Get Alerts

Disable this ad

Sign Up for the Texas AM Alert

Join the thousands of real estate professionals that subscribe to the Texas AM Alert. Each and every morning, we deliver the important stories, data, analysis…as well as the opinions and insights of industry thought leaders to provide you with market intelligence and a daily business advantage.

Become a registered member today and don’t miss another important story in the Texas market. Let GlobeSt.com be your source for everything real estate.

Vue Fitzhugh is one of three
class-A properties acquired.

DALLAS-With the goal of national expansion, Chicago-based Waterton Residential has acquired 592 upscale, high-design apartment units through its purchase of three class-A multifamily properties here: Vue Fitzhugh, Vue Greenville and Vue Live Oak. The Vue portfolio, originally developed by Inland American Communities, includes a total of 503,775 square feet of rentable space.

“Waterton is excited to add such a high quality group of assets to our growing portfolio,” explains Matt Masinter, senior vice president of acquisitions at Waterton Residential. “The Vue portfolio offers the unique combination of post-2000 vintage construction with value-added potential and a strong, infill Dallas location.”

Masinter continues that “Waterton will continue to pursue opportunistic acquisitions in Dallas as we endeavor to grow the Waterton Residential Property Venture XI LP portfolio nationwide.”

GE Capital was the seller and was represented by Apartment Realty Advisors' Dallas office. The portfolio was acquired as part of Waterton Residential Property Venture XI, a $500-million discretionary multifamily investment fund, as GlobeSt.com exclusively reported in March of this year.  

Waterton Residential tells GlobeSt.com that it cannot disclose the purchase price at this time. GE Capital did not respond to GlobeSt.com inquiries for purchase price or reasons for selling by deadline.

Renovations, which began in 2007 under the previous owner, will continue at all three properties and include the addition of wood floors and granite countertops in units that do not already include them.

Built in 2004, Vue Fitzhugh is a distinctive three-story building set on 3.6 acres in Dallas’ Knox-Henderson entertainment district. It includes 226 units consisting of one-bedroom/one-bathroom, one-bedroom/one-bathroom loft and two-bedroom/two-bathroom apartment homes.

Built in 2006, Vue Greenville is a three-story building set on 3.7 acres in the Greenville entertainment district and minutes from both downtown and uptown. It includes 128 units consisting of one-bedroom/one-bathroom, two-bedroom/two-bathroom and three-bedroom/three-bathroom apartment homes.

Built in 2003, Vue Live Oak consists of four separate three-story buildings designed and set on 3.6 acres near the Dallas central business district and Deep Ellum neighborhood. It includes 238 units with a mix of efficiencies, one-bedroom/one-bathroom, one-bedroom/one and a half-bathroom, two-bedroom/two-bathroom and two-bedroom/ two and a half-bathroom apartment homes.

Categories: Southwest, Multifamily, Acquisitions/Dispositions, Dallas/Fort Worth