Waterton acquired City Walk at Woodbury, a 453-unit rental community in Woodbury, Minnesota.
The wrap-style rental community comprises two four-story residential buildings, heated indoor parking garages, a clubhouse and 24,000 square feet of retail space. Waterton will execute a targeted value add program to enhance the residences, hallways and common areas throughout the community.
Built in phases in 2005 and 2011, City Walk at Woodbury features relatively large floorplans across one-, two- and three-bedroom configurations. Residences feature a patio or balcony and include a mix of finishes such as stainless steel or black appliances, vinyl plank flooring and carpet, and hard-surface or Formica countertops.
The clubhouse includes an indoor pool, hot tub, sauna, game room, golf simulator, business center, a children’s room, and a fitness center with a yoga studio and spin room. Residents also have access to multiple community kitchens, club lounges and co-working spaces in the clubhouse. Outdoor amenities include a playground, dog park and grilling stations as well as a sundeck with a fireplace.
Waterton plans to execute a tailored approach to residential improvements. Updates will range from refreshed cabinets, hardware and lighting fixtures, to new appliances, countertops, plumbing fixtures, flooring, and paint as needed. The firm plans to enhance hallways and shared spaces and update landscaping and mechanical systems to improve the overall experience.
