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| 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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