Lewisville apartment community acquired for $44 million | News
Steadfast Apartment REIT III Inc. has acquired The Pointe at Vista Ridge, formerly known as Enclave at Vista Ridge, a 300-apartment- home community located in Lewisville for approximately $44 million. "Dallas is a growing region with demographic trends that are a good fit for the investment objectives of Steadfast Apartment REIT III , which targets mid- tier multifamily properties in growing communities," said Ella Neyland, president of Steadfast Apartment REIT III . "Additionally, The Pointe at Vista Ridge enjoys an ideal location in the midst of a thriving neighborhood with numerous lifestyle amenities for our current and future residents." Completed in 2003, The Pointe at Vista Ridge includes 11 three-story buildings with one-, two- and three- bedroom apartment homes that average 1,080 square feet. In-place rents average $1,187 per month and the community is currently 94.3 percent occupied. The Pointe at Vista Ridge's amenities include a resort-style p...