Tuesday, February 23, 2016

Waterton Acquires Parkside at Firewheel Apartments in Garland, TX

Matthew Masinter
CHICAGO, IL, Feb. 23, 2016 – Waterton, a U.S. real estate investor and operator, today announced it has acquired Parkside at Firewheel, a 594-unit rental community located in the Dallas suburb of Garland, Texas.

Built in two phases in 2007 and 2013, the community is adjacent to the Firewheel Town Center, a 1 million-square-foot regional shopping center that includes more than 125 storefronts and 70,000 square feet of office space.

Parkside at Firewheel also offers convenient access to nearby employment centers, including the Telecom Corridor and CityLine, a 186-acre mixed-use development in nearby Richardson.

“Ongoing job growth and rising home values in the Dallas-Fort Worth Metroplex have continued to fuel demand for rental housing, which is why we were eager to add Parkside at Firewheel to our growing portfolio of multifamily properties,” said Matt Masinter, senior vice president of acquisitions at Chicago-based Waterton.

“The community’s proximity to major employers like State Farm and Raytheon Co. – both of which have new campuses less than 10 minutes away at CityLine – makes it an attractive option for renters and will only enhance its value going forward as more high-profile companies move to the area.”

For a complete copy of the company’s news release, please contact:

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

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