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Waterton enters Philadelphia market with acquisition of 230-unit The Point at Glen Mills
Waterton announced it has acquired The Point at Glen Mills in Glen Mills, Pa., marking its first acquisition in the Philadelphia metro. Located in the Brandywine Valley area, about 30 minutes from Philadelphia, the 13.6 acre rental community has connectivity to several employment centers across the region.
The Point consists of five four-story, mid-rise buildings and includes nearly 10,000 square feet of amenities. Waterton will rebrand the property as Heights at Glen Mills and execute a light value-add renovation, including updates to residences and common areas.
“We saw The Point as an excellent opportunity to expand our East Coast footprint,” said Jeremy Stern, vice president, acquisitions at Waterton. “We believe the location, in terms of proximity to employment and access to the Garnet Valley School District, made The Point an attractive addition to our portfolio, while the large, open floor plans provide attainable access to rental housing relative to the