January 11, 2020
Chicago-based Waterton broadened its ownership presence in the Houston area, acquiring a three-property, 809-unit multifamily portfolio. The properties, sold by Hills Properties in Blue Ash, OH, consist of:
- The 264-unit Madison on the Meadow, 12660 Stafford Rd., Stafford, TX
- The 348-unit Reserve by the Lake, 18600 S. Park View Dr., Houston
- The 197-unit Summerwind, 2414 CR 90, Pearland, TX
The new owner is planning improvements to the complexes, including interior and exterior renovations, as well as a focus on improving existing clubhouses, common areas, pools and amenities. The company owns four other complexes in the Houston metro.
“Following several years of strong economic growth and job creation, Houston remains an extremely important target market for multifamily investment,” said Waterton’s David Schwartz. “The portfolio presents a remarkable opportunity to enhance our existing portfolio in the region, as more and more residents flock to the area and look for convenient, high-quality housing.”
Pictured: Madison on the Meadow, Stafford, TX
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