August 6, 2018
New York-based GTIS Partners formed a joint venture with Atlanta-based Cortland Partners, and has acquired a pair of multifamily assets in Dallas and Orlando for a reported $175 million. The more than 900-unit portfolio includes recently-constructed Class A garden-style multifamily communities.
GTIS Partners’ David Pahl says, “This investment supports our continued fund strategy of acquiring high-quality income producing properties in the top growth markets around the U.S.”
The properties include:
- Cortland Waters Edge, a 582-unit community with 22 three-story buildings, two clubhouses, a full suite of amenities and 977 parking spaces. Located near the Las Colinas, Irving and Farmer’s Branch submarkets, it is roughly 20 minutes northwest of Downtown Dallas.
- Cortland Jubilee Park (pictured), a 330-unit property with 21 two-and three-story buildings, a clubhouse, a full suite of amenities and 711 parking spaces. Located in the Southeast/Airport submarket of Orlando, it is roughly 20 minutes southeast of Downtown Orlando.
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