PLANO, TX-Dallas-based American Communities has added three more multifamily properties to its portfolio. Within a 28-day period, the firm closed on Cornerstone Ranch and Laurel Ridge in Plano and Islands West in Irving, TX.

The addresses of the properties are as follows:

• Cornerstone Ranch, 1717 Independence Pkwy.; seller was Mosaic Residential of Houston
• Lauren Ridge, 2821 Townbluff Dr.; Mosaic Residential was also the seller
• Islands West, 2700 Rock Island Rd.; seller Thomas Tom of Santa Barbara, CA

"To finalize a deal on two multi-family properties in 28 days and negotiate a third property concurrently is rare in our industry,” said Ronny Guerrero, CEO and president of American Communities. “This is especially true since interest rates are on the rise."

The real estate firm has already started plans for renovations and upgrades to the properties, which will be similar in scope to those that American Communities completed on Bel Air Las Colinas, Chaparral Creek, also in Irving. The three properties will be renamed under the Bel Air moniker following renovations.