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| Villas at Hermann Park, Almeda Road, Midtown Neighborhood, Houston, TX |
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| Matt Masinter |
CHICAGO,
IL – Waterton Associates LLC, a U.S. real estate investor and operator, has
entered the Houston market with its acquisition of the Villas at Hermann Park, a
320-unit wrap-style rental community adjacent to Hermann Park and the Texas
Medical Center, whose 54 institutions employ approximately 106,000 people,
making it the largest collective employer in Houston and the world’s largest
medical center.
Located
on Almeda Road, just south of Houston’s Midtown neighborhood, the community
offers a mix of one-, two- and three-bedroom residences across 12 four-story
buildings, as well as two parking garages.
It is the first property acquired by Waterton
in 2015 and expands the firm’s footprint in Texas, where Waterton owns five
other apartment communities in Austin and Dallas comprising approximately 1,400
units.
“Fueled
by a robust and diversified economy, Houston has led the nation in job recovery
since the recession, with employment in the city at an all-time high,” said Matt
Masinter, senior vice president of acquisitions at Waterton.
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| Texas Medical Center |
“This
job growth has coincided with significant population gains – Houston added
138,000 residents between 2012 and 2013, more than any other metropolitan area
in the country – creating strong demand for housing, especially in core, infill
locations like the area around the Texas Medical Center.”
For
leasing information, call (866) 518-1931 or visit www.villasathermannpark.com.
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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