Texas

TAMPA, FLA. — Tampa-based multifamily investment firm American Landmark has acquired four communities totaling 1,616 units throughout the Dallas-Fort Worth (DFW) metroplex. The properties include Meadows at Bedford, a 490-unit community in Bedford; Remington Hill, a 440-unit property in Fort Worth; Rock Ridge Apartments, a 226-unit asset in Arlington; and Summer Villas, a 460-unit community in Dallas. Other than Rock Ridge, which was built in 2003, all the properties were built in the 1980s and were between 91 and 96 percent occupied at the time of sale. The properties were acquired in conjunction with a 232-unit asset near Nashville, yielding a five-property portfolio that fetched a sales price of $246.7 million. American Landmark, which will invest about $18 million in capital improvements across the portfolio, now owns approximately 28,000 multifamily units throughout the Southeast and Texas.

HOUSTON — Berkadia has arranged the sale of Vargos on the Lake, a 276-unit multifamily asset in Houston. Built in 2015, the property offers one-, two- and three-bedroom units that feature stainless steel appliances, quartz countertops and individual washers and dryers. Communal amenities include a coffee bar, fitness studio, conference room and a dog park. Ryan Epstein and Jennifer Ray of Berkadia represented the seller and developer, Hunington Properties Inc., in the transaction. Cutt Ableson of Berkadia secured acquisition financing through an undisclosed lender on behalf of the buyer, Boston-based Berkshire Residential Investments.