HOUSTON – Chicago-based Waterton Associates LLC, a U.S. real estate investor and operator, has entered the Houston market with its acquisition of the Villas at Hermann Park, a 320-unit wrap-style rental community adjacent to Hermann Park and the Texas Medical Center., whose 54 institutions employ approximately 106,000 people, making it the largest collective employer in Houston and the world’s largest medical center.
Located on Almeda Road, just east of the Texas Medical Center, the community offers a mix of one-, two- and three-bedroom residences across 12 four-story buildings, as well as two parking garages. It is the first property acquired by Waterton in 2015 and expands the firm’s footprint in Texas, where Waterton owns five other apartment communities in Austin and Dallas comprising 1,400 units.
Founded in 1995 by David Schwartz and Peter Vilim,,Waterton is privately held by its co-founders and is headquartered in Chicago with seven regional offices throughout the United States. Waterton’s portfolio included more than $3.8 billion in assets.
The Texas Medical Center, with 54 institutions employing106,000 people, is the largest collective employer in Houston and the world’s largest medical center.