{"id":1004052061,"date":"2012-04-27T06:49:03","date_gmt":"2012-04-27T14:49:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=45614"},"modified":"2025-02-25T23:41:41","modified_gmt":"2025-02-26T07:41:41","slug":"waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/","title":{"rendered":"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M"},"content":{"rendered":"<p>By Eliza Theiss, Associate Editor<\/p>\n<p>Waterford Place has been purchased for <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Waterford-place-memphis.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-45615\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Waterford-place-memphis.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a>$21.475 million, or $67,093 per unit, by Winthrop Realty Trust via WRT-Waterford Place LLC, an entity affiliated with the Boston-based investment trust.<\/p>\n<p>Waterford Place, a 320-unit, Class A apartment complex, is situated on 27.9 acres at 8037 Waterford Circle in the Germantown\/Collierville submarket of Memphis. Property amenities include two pools, a tennis court, fitness center, onsite business center, laundry facility and club house. Individual units feature walk-in closets and private patios or balconies. The apartment complex is currently 87 percent occupied.<\/p>\n<p>GECMC 2006-C1 Waterford Circle LLC, an entity affiliated with LNR Partners LLC, a subsidiary of Miami-based LNR Property LLC, was the seller. The same entity bought Waterford Place in May 2011 for $18.2 million following a foreclosure from substitute trustee Harris P. Quinn of Prochaska Thompson Quinn &amp; Ferraro PC. Its previous owners, Empirian Waterford LLC and Flushing Waterford LLC, defaulted on a $54.6 million loan, according to <em>The Memphis Daily News<\/em>.<\/p>\n<p>LNR Partners\u2019 affiliates also purchased and sold another Empirian property\u2014the Villas at Cordova\u2014now owned by Los Angeles-based QVT Mount Auburn Capital LP.<\/p>\n<p>Winthrop Realty Trust is a publicly traded real estate investment trust focusing on high-risk adjusted return by acquiring assets that are undervalued or have potential for superior growth.<\/p>\n<p>In other multifamily news, the <em>Memphis Business Journal<\/em> reported the acquisition of the 600-unit Highland Meadows apartment complex by New York-based Highland Meadows Partners LLC for $5.54 million, or $9.233 per unit. The 1975-built apartment community is located at 5045 Airways Boulevard in the West Winchester submarket of Memphis.<\/p>\n<p>Formerly known as Waterford Pointe, the apartment community sits on 36.9 acres, three miles from Memphis International Airport. It features one- and two-bedroom units, and amenities include a fitness center, swimming pool, tennis court, clubhouse and onsite business center.<\/p>\n<p>CBRE Memphis\u2019 Multifamily division represented the seller, the lender that foreclosed on the property.<\/p>\n<p><em>Photo courtesy of Waterford Place\u2019s Facebook Page<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Eliza Theiss, Associate Editor Waterford Place has been purchased for $21.475 million, or $67,093 per unit, by Winthrop Realty Trust via WRT-Waterford Place LLC, an entity affiliated with the Boston-based investment trust. Waterford Place, a 320-unit, Class A apartment complex, is situated on 27.9 acres at 8037 Waterford Circle in the Germantown\/Collierville submarket of [&#8230;]<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004052061","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M\" \/>\n<meta property=\"og:description\" content=\"By Eliza Theiss, Associate Editor Waterford Place has been purchased for $21.475 million, or $67,093 per unit, by Winthrop Realty Trust via WRT-Waterford Place LLC, an entity affiliated with the Boston-based investment trust. Waterford Place, a 320-unit, Class A apartment complex, is situated on 27.9 acres at 8037 Waterford Circle in the Germantown\/Collierville submarket of [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-04-27T14:49:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T07:41:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Waterford-place-memphis.jpg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M\",\"datePublished\":\"2012-04-27T14:49:03+00:00\",\"dateModified\":\"2025-02-26T07:41:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/\"},\"wordCount\":325,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/04\\\/Waterford-place-memphis.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/\",\"name\":\"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/04\\\/Waterford-place-memphis.jpg\",\"datePublished\":\"2012-04-27T14:49:03+00:00\",\"dateModified\":\"2025-02-26T07:41:41+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/04\\\/Waterford-place-memphis.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/04\\\/Waterford-place-memphis.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\",\"name\":\"Eliza Theiss\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"caption\":\"Eliza Theiss\"},\"description\":\"Eliza Theiss is a senior writer reporting real estate trends in the US. Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. She has also contributed extensively to CommercialEdge. Reach her at eliza.theiss@yardi.com\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/eliza\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/","og_locale":"en_US","og_type":"article","og_title":"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M","og_description":"By Eliza Theiss, Associate Editor Waterford Place has been purchased for $21.475 million, or $67,093 per unit, by Winthrop Realty Trust via WRT-Waterford Place LLC, an entity affiliated with the Boston-based investment trust. Waterford Place, a 320-unit, Class A apartment complex, is situated on 27.9 acres at 8037 Waterford Circle in the Germantown\/Collierville submarket of [...]","og_url":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2012-04-27T14:49:03+00:00","article_modified_time":"2025-02-26T07:41:41+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Waterford-place-memphis.jpg","type":"","width":"","height":""}],"author":"Eliza Theiss","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/"},"author":{"name":"Eliza Theiss","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4"},"headline":"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M","datePublished":"2012-04-27T14:49:03+00:00","dateModified":"2025-02-26T07:41:41+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/"},"wordCount":325,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Waterford-place-memphis.jpg","articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/","url":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/","name":"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Waterford-place-memphis.jpg","datePublished":"2012-04-27T14:49:03+00:00","dateModified":"2025-02-26T07:41:41+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Waterford-place-memphis.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Waterford-place-memphis.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/waterford-place-sold-for-21-5m-highland-meadows-goes-for-5-54m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Waterford Place Sold for $21.5M; Highland Meadows Goes for $5.54M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4","name":"Eliza Theiss","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g","caption":"Eliza Theiss"},"description":"Eliza Theiss is a senior writer reporting real estate trends in the US. Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. She has also contributed extensively to CommercialEdge. Reach her at eliza.theiss@yardi.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/eliza\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004052061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004052061"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004052061\/revisions"}],"predecessor-version":[{"id":1004628383,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004052061\/revisions\/1004628383"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004052061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004052061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004052061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}