In one of the largest residential real estate-anchored deals this year, investors have acquired the tony Waterford Townhome complex in Clarence Center.
Investors Meritas Equity Partners LLC and Buffalo-based Symphony Property Management - through their Waterford Townhome Holdings LLC affiliate - paid $21 million for the complex, buying it from Waterford Townhomes LLC.
The deal is one of the largest commercial or residential-based transactions in Clarence in recent memory.
"Waterford is a high quality community in a desirable suburban town," said Tim LeBoeuf, Symphony principal in a prepared statement.
Symphony will provide the daily on-site maintenance, operations and rental functions.
The deal is the second major residential project undertaken by Meritas and Symphony. The pair are developing the Lawrence Apartments near the Buffalo Niagara Medical Campus.
Waterford, located on Calpin Parkway not far from Goodrich and Clarence Center roads in the heart of the Clarence Center hamlet, was developed in 2018 and features 77 upscale townhomes including one-bedroom, two-bedroom and three-bedroom models.