CLARENCE CENTER, NY / ACCESS Newswire / February 3, 2026 / Meritas Equity Partners and Symphony Property Management announced today the acquisition of Waterford Townhomes, a 77-unit luxury rental community in Clarence Center, New York. Symphony, a leading regional owner-operator of multifamily communities, and Meritas, a private equity firm, also recently partnered to develop a 132-unit market-rate residential development, The Lawrence, in Buffalo's medical district.

Completed in 2018, Waterford Townhomes is a modern residential community consisting of one-, two-, and three-bedroom townhomes and duplexes. The property features premium finishes, in-unit laundry, private entrances, attached garages, and shared amenities including a clubhouse, swimming pool, and sun deck.

Located in Clarence Center, the community benefits from strong demand driven by highly rated schools, proximity to employment centers, and a limited new supply of comparable rental housing. The local high school ranks #3 in NY for athletics, top 5% nationally for STEM, and top 10% nationally for overall academics.

"Waterford is a high-quality property in a location we know well and continue to believe in," said Spencer Farrell, Partner at Meritas Equity Partners. "Partnering with Symphony allows us to combine our investment approach with a team that has deep experience operating multifamily communities in this market."

Symphony Property Management will oversee day-to-day operations. The firm manages a portfolio that includes market-rate and mixed-use communities throughout the region. "We're excited to partner with Meritas on the acquisition of Waterford Townhomes," said Tim Leboeuf, Principal at Symphony Property Management. "Waterford is a high-quality community in a desirable suburban location, and we see opportunities to continue operating at a high level while supporting a strong resident experience."

The partnership plans to focus on operational efficiencies, resident services, and targeted interior improvements to support long-term performance and maintain the quality of the community.

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About Meritas Equity Partners
Meritas Equity Partners is a private equity firm investing in real estate and lower middle-market companies. The firm sources, structures, and deploys capital to complete transactions and partners closely with experienced operators to drive operational excellence and sustainable long-term value.
Website: https://meritasep.com

About Symphony Property Management
Symphony Property Management is a Buffalo-based real estate owner and operator with a diverse portfolio of multifamily, commercial, collegiate, and mixed-use communities throughout Western New York. Symphony focuses on high-quality property management, disciplined operations, and long-term asset stewardship.
Website: https://www.symphonymgmt.com

Media Contact:
Emily Benedict
ESB Media LLC
emily@emilybenedict.com

SOURCE: Meritas Equity Partners