Friday, January 17, 2014

Westmount Realty buys Lewisville apartment community

The 270-unit Alta Ridge Apartments were built in 2006 and 2007. (Westmount)
Dallas investor Westmount Realty Capital LLC has purchased a Lewisville apartment community.

Westmount bought the 270-unit Alta Ridge Apartments located at 2241 South Business Highway 121 in Lewisville.

The new owners plan to upgrade the building, which were built in 2006 and 2007. The property will be renamed Westmount at Vista Ridge.

“Though the property is relatively young, renovations including unit interior updates and amenity upgrades are planned to keep the property competitive with recent new developments in the neighborhood and enhance the opportunity to capture additional rents,” Westmount CEO Clifford Booth said. “We consider this to be a premier property in our portfolio.”

Terms of the sale were not disclosed.

Westmount owns about 2,300 apartments in Texas.