Apartment Lists

DALLAS, TX -  Preferred Apartment Communities announced the sale of Enclave at Vista Ridge, a Class A multifamily community located in Dallas, Texas.PAC sold the property for gross aggregate disposition proceeds of approximately $44.0 million. The property achieved an average annualized return of approximately 15.6%. "The attractive return on the sale of Enclave, a property constructed in 2003 and purchased by PAC just over two and a half years ago , demonstrates our ability to effectively recognize significant value in our acquisition program and provides us the opportunity to redeploy the sale proceeds into well-located, newly constructed and high- quality multifamily communities in our core markets," said John A. Williams, the Chairman and Chief Executive Officer for PAC. Enclave at Vista Ridge Apartment Homes is located in Lewisville, Texas a suburb of Dallas. Features include gourmet kitchens , 9- foot ceilings with crown molding, walk-in closets and g...

The Pointe at Vista Ridge Steadfast Apartment REIT III Inc. acquired The Pointe at Vista Ridge, formerly known as Enclave at Vista Ridge, for $44 million from Preferred Apartment Communities . Located at 2701 MacArthur Blvd. in the Northern Dallas submarket of Lewisville, the 300- unit community comprises one-, two- and three- bedroom floorplans ranging from 680 to 1,292 square feet across it 11, three-story buildings. Originally completed in 2003, the property is currently 94.3 percent occupied. Apartment interiors include nine-foot ceilings, washer and dryer connections, faux granite countertops , private balcony and patios, crown molding, ceiling fans and fireplaces in select units. Residents have access to amenities such as a resort-style pool with outdoor kitchen, a playground, outdoor barbecue grills , a sand volleyball court , game room with billiards and game station, a tanning bed, covered carports, 620 parking spaces, a 24- hour fitness center , clubhouse with resident l...

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...