594-Unit Parkside at Firewheel sell in Garland

​​​​​GARLAND – A Chicago-based investor has purchased a large apartment community in Garland’s Firewheel Town Center project.

Investor Waterton said it has bought Parkside at Firewheel, a 594-unit rental community located next door to the Firewheel regional retail center.

Built in 2007 and 2013, the Parkside at Firewheel apartments are close to Bush Turnpike, which provides access to employment centers in the Telecom Corridor and Plano.

Waterton said the Garland apartment community is its first acquisition of 2016. The new owner said it plans to upgrade 70 percent of the Firewheel apartments, at 305 River Fern Ave.

Waterton owns six other apartment communities in Texas with about 1,500 units.​​

Waterton also owns the 300-unit Sheridan Park apartments on Spring Creek Parkway in Plano.