CHICAGO, IL - With the goal of national expansion, Waterton Residential recently acquired 592 upscale, high-design apartment units through its purchase of three Class A multifamily properties in Dallas, Texas: Vue Fitzhugh, Vue Greenville and Vue Live Oak. The Vue portfolio, originally developed by Inland American Communities, includes three institutional quality communities totaling 503,775 square feet of rentable space.
"Waterton is excited to add such a high quality group of assets to our growing portfolio," said Matt Masinter, senior vice president of acquisitions, Waterton Residential. "The Vue portfolio offers the unique combination of post-2000 vintage construction with value-added potential and a strong, infill Dallas location. Waterton will continue to pursue opportunistic acquisitions in Dallas as we endeavor to grow the Waterton Residential Property Venture XI, L.P. portfolio nationwide."
Built in 2004, Vue Fitzhugh is a distinctive three-story building set on 3.6 acres in Dallas' trendy Knox-Henderson entertainment district. It includes 226 units consisting of one-bedroom/one-bathroom, one-bedroom/one-bathroom loft and two-bedroom/two-bathroom apartment homes. The property features contemporary amenities such as a resident lounge, fitness center, resident internet cafe, swimming pool, outdoor fireplace lounge, barbeque grilling area, parking garage and controlled access entry. In addition, each apartment home is well-appointed with upscale decor including a ceramic tile entryway, hardwood floors, granite countertops, dishwasher, patio or balcony and an intrusion alarm.
Built in 2006, Vue Greenville is a unique three-story building set on 3.7 acres in the heart of the Greenville entertainment district and minutes from both downtown and uptown. It includes 128 units consisting of one-bedroom/one-bathroom, two-bedroom/two-bathroom and three-bedroom/three-bathroom apartment homes. The property features a fitness center, swimming pool, outdoor fountain lounge, barbeque grilling area, parking garage and controlled access gates. Charming and distinctive decor mark these apartments which include European-style cabinetry, hardwood floors, granite countertops, patios/balconies, dishwashers and wood-burning fireplaces.
Vue Live Oak
Built in 2003, Vue Live Oak consists of four separate three-story buildings stylishly designed and set on 3.6 acres near the Dallas central business district and Deep Ellum neighborhood. It includes 238 units with a mix of efficiencies, one-bedroom/one-bathroom, one-bedroom/one and a half-bathroom, two-bedroom/two-bathroom and two-bedroom/ two and a half-bathroom apartment homes. The property includes a resident lounge, fitness center, swimming pool, barbeque grilling area, parking garage, controlled access gates. High design decor differentiates these apartments which include European-style cabinetry, hardwood floors, granite countertops, patios/balconies, dishwashers and wood-burning fireplaces.
Renovations, which began in 2007 under the previous owner, will continue at all three properties and include the addition of wood floors and granite countertops in units that do not already include them. Waterton Residential closed on the purchase of the Vue portfolio November 21, buying the apartment community from GE Capital. The seller was represented by Apartment Realty Advisors' Dallas office. The portfolio was acquired as part of Waterton Residential Property Venture XI, a $500 million discretionary multifamily investment fund.
Chicago-based Waterton Residential, one of the leading multifamily companies in the nation, is focused on the acquisition and management of apartment communities in multiple markets to which it can add value through repositioning and renovation. Since its inception in 1995, the Waterton Residential team has remained committed to outstanding customer service by providing a community our residents are proud to call home. With 16,974 apartment homes in 44 communities in 11 states the Waterton Residential brand signifies exceptional living experiences, a sense of community, and home. Waterton employs 474 associates who are committed to achieving the Waterton Residential vision to be the leader in the multifamily industry.