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FRISCO, TEXAS — A partnership between Atlanta-based RangeWater Real Estate and metro Philadelphia-based CenterSquare Investment Management has purchased Sorrel Phillips Creek Ranch, a 352-unit apartment community in Frisco. Built in 2015, the property offers one-, two- and three-bedroom units that range in size from 776 to 1,476 square feet. Amenities include a pool, clubhouse, bark park, media center and a fitness center. The new ownership plans to make capital improvements to unit interiors and building exteriors. The seller and sales price were not disclosed.