Waterton, a national real estate investor and operator, has acquired a three-property, 809-unit, institutional-quality multifamily portfolio in Houston.
The acquisition almost doubles the firm’s Houston portfolio, signifying Waterton’s continued commitment to the metro area.
“The three assets are not only well located, but they remain in classic or near-original condition, allowing for us to implement a meaningful value add program across the portfolio,” said Matt Masinter, senior vice president of acquisitions at Waterton. “Additionally, clubhouses and common area amenities remain largely in original condition and are primed for renovations that will make the communities competitive with new stock in the area.”
The properties include:
Madison on the Meadow (12660 Stafford Road, Stafford, Texas) — 264 units across 11, three-story, garden-style buildings located 18 miles southwest of downtown Houston
