AUSTIN, TX – Waterton, a national real estate investor and operator, announced it has bought a three-property residential portfolio totaling 950 units in Austin, TX, home to a thriving tech corridor as well as world-renowned retail and entertainment districts. The acquisition marks a reentry into the Austin real estate market for Waterton, having sold its last local asset in March 2015.

Built in 1995, 1996 and 1997, respectively, the properties, formerly owned by Northland Investment Corporation, are located approximately 14 miles north of Austin’s Central Business District and include:

Madison at Stone Creek – 390 units across 19 three-tale garden-style residential buildings, including a clubhouse/office, fitness center, sauna, dog park and two outdoor swimming pools.

Madison at Wells Branch – 300 units across 15 two- and three-tale garden-style residential buildings, 40 garage buildings, clubhouse/office, a fitness center, dog park, sand volleyball court, tennis court, pool house and two outdoor swimming pools.

Madison at Scofield Farms – 260 units across 13 two- and three-tale garden-style residential buildings, 29 garage buildings including a clubhouse/office, fitness center, dog park, tennis court, pool house and outdoor swimming pool.

“Austin is one of the country’s fastest growing metros, with positive economic indicators and a rapidly growing presence of well-known technology companies,” said David Schwartz, chairman and co-founder of Waterton. “These are high-quality assets in prime locations, just north of the Domain and within North Austin’s tech corridor. The three properties will undoubtedly be strong additions to our growing portfolio in Texas and nationwide.”

Austin has continued to show solid multifamily fundamentals, experiencing 3.6 percent year-over-year rent growth in 2018. Meanwhile, employment growth was above three percent throughout 2018 as the metro added 40,400 jobs, with trade, transportation and utilities leading the growth. The unemployment rate in Austin is three percent as of February 2019, supported by a consistent influx of businesses and people relocating to Austin—particularly from California—due to the area’s relatively affordable cost of living, deep talent pool, high quality of life and business-friendly environment.

North Austin is home to Austin’s tech corridor, which includes employers such as Apple, Dell, Google, Cisco, Amazon, Facebook, IBM, Indeed and 3M. Apple’s upcoming $1 billion, 133-acre North Austin campus is anticipated to use 10,000 people over the next five years, which will make the tech firm the largest private employer in the metro with more than 15,000 total jobs. 

“We are excited to be reentering the Austin market with three well positioned assets. The properties benefit from the city’s booming tech scene as well as diverse employment opportunities and cultural offerings in the North Austin/Domain submarket,” said Matt Masinter, senior vice president of acquisitions at Waterton. “As rent growth in the area continues to be strong, our expertise in value add improvements will make attractive housing for a broad resident base.”

Waterton’s value add strategy will include updating the vintage details of the individual residential communities with modern finishes, including quartz countertops, tile backsplash, stainless steel appliances, updated cabinets, new hardware, faux-wood flooring, modern lighting and plumbing fixtures. Common area and exterior improvements include upgrades to community garages, clubhouses, leasing centers, pool areas, fitness centers and landscaping. The addition of package storage systems are also plotted at both Madison at Scofield Farms and Madison at Wells Branch.

“We are pleased to transact with Waterton on these three outstanding assets, which Northland owned and operated for more than a decade,” said Matthew Gottesdiener, Chief Investment Officer of Northland Investment Corporation, which owns 15 multifamily properties in Texas’ capital. “Northland is highly committed to Austin, where we remain the second largest multifamily owner. The city is home to some of the most dynamic and quick-growing companies in the world, and we are excited to welcome a high-quality operator like Waterton back to Austin with this acquisition.”

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LAS VEGAS, NV – Henley Investments, a leading private equity real estate firm based in the UK and the USA, together with collaborators Tower 16 Capital Partners, have announced the acquisition of the Five89 apartment community in eastern Las Vegas.  With 312 units, as well as a full complement of recreation and convenience amenities, the property will be extensively renovated and rebranded as part of Henley Tower 16’s family of upscale apartment communities branded as “Accent.”

“The strength of the Las Vegas region’s economy and its rate of growth – both of which far outpace national averages – mean that more and more residents here, whether new to Las Vegas or not, are seeking more upscale addresses that still give them the flexibility of renting rather than buying,” said Henley CEO Ian Rickwood. “Henley’s renovation, really more of a re-imagining, will provide another new upscale apartment option to discerning residents, and in one of the most well loved sections of Las Vegas,” he added. 

The community offers studio, one-, two- and three-bedroom apartment homes, with available in-unit washer/dryers and balconies or patios. The community is amenity-rich, with two swimming pools, a Clubhouse with a fitness center, a tot lot, a dog park, a community grilling/BBQ area and covered parking. 

“Henley’s vision for the apartment community includes full renovations of all the units; redesign of all lobbies, hallways and common areas; redesign of the Clubhouse and management offices; and extensive new landscaping and updates to building exteriors,” said Garrett Solomon, MD, CIO of Henley North America.  “We expect that all renovations to the building’s common areas and grounds should be completed early next year.”

The acquisition of Five89 brings the Henley Tower 16 portfolio to over $200 million in assets.

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NEW ORLEANS, LA – 365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry, announced today that the company has received a Gold dotCOMM Award for its industry-first, ADA-certified marketing, leasing, and resident services platform. This prestigious, international award recognizes 365 Connect’s dedication in meeting the rapidly changing needs of the multifamily housing industry.

The dotCOMM Awards is an international competition, honoring excellence in web creativity and digital communication. The competition is unique in that it reflects upon the role of creatives in the dynamic web, who are transforming how we market and communicate products and services. The winning entries are selected by an international panel of judges. This year’s competition boasted thousands of entries from countries across the globe with entrants ranging from corporate marketing and communication departments to media conglomerates and Fortune 500 companies.

365 Connect was recognized for its extreme efforts in certifying its entire platform as digitally compliant with the federally recognized Web Content Accessibility Guidelines (WCAG) at Level AA. The certification covers the entire 365 Connect Platform, including property websites, lead forms, tour requests, rental applications, portals, and payments. 365 Connect received third-party certification from Online ADA, a member of the International Association of Accessibility Professionals and provider of independent Web Content Accessibility Guidelines (WCAG) compliance audits.

“Our mission is to recognize the highest standard of excellence in web creativity and digital communication,” clarified Ed Dalheim, Executive Director of the dotCOMM Awards. “365 Connect has certainly raised the bar to a new level. Their commitment to digital inclusion is making a difference in people’s lives, proving to the world that they are one of the best in their field. We are honored to present them with one of the most highly-recognized awards in the creative industry.”

With an array of highly coveted technology awards, 365 Connect continues to revolutionize the multifamily housing industry with a dynamic platform built on modern-cloud architecture and flexible infrastructure. The platform consumes, integrates, and displays data in order to streamline operations without sacrificing a seamless user experience. Today, many of the nation’s most respected multifamily housing operators utilize 365 Connect to unify processes and make efficient workflows.

“We are excited to have our efforts acknowledged on an international level, and we are truly honored to receive this highly-acclaimed award,” stated Kerry W. Kirby, CEO of 365 Connect. “As physical buildings become more digitally dependent on their websites to interact with potential and current customers, these services must be accessible to everyone, including individuals with disabilities. This award emphasizes our team’s unwavering commitment to deliver compliant solutions to the widest possible audience.

365 Connect was founded in 2003 with an unwavering commitment to transforming how apartment communities market, lease, and retain residents. As a leading provider of award-winning technology platforms for the multifamily housing industry, we deliver a fully-integrated suite of comprehensive solutions that automate marketing, simplify transactions, and serve residents after the lease is signed. 365 Connect allows its clients infinite expansion, robust integrations, and the ability to revolutionize user experiences.

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