Tuesday, July 29, 2014

Atlanta apartment firm buys Lewisville project as part of larger acquisition



Atlanta-based Preferred Apartment Communities Inc. is buying a Lewisville rental community.

The property is the 300-unit Estancia at Vista Ridge Apartments at 2701 MacArthur Boulevard.

Built in 2003, the apartment community is being sold by a Kansas City-based company.

The Lewisville purchase is part of an acquisition of 1,397 apartments located in Kansas, Texas and Tennessee, Preferred Apartment Communities said.


The $181.7 million purchase of the four properties is set to close in the third quarter.

Steve Brown-Dallas News