PCA Sells Class A Apartment Community in Lewisville for $44M

LEWISVILLE, TEXAS — Preferred Apartment Communities Inc., a publicly traded, Maryland-based multifamily operator, has sold Enclave at Vista Ridge, a Class A multifamily community in metro Dallas for approximately $44 million. Located at 2701 MacArthur Blvd. in Lewisville, the property was built in 2003 and features amenities such as a resort-style pool, fitness centers, game room and a resident clubhouse with a lounge and theater. Steadfast Apartment REIT III Inc., an affiliate of California-based investment firm Steadfast Cos., purchased the property and will rebrand it The Pointe at Vista Ridge.