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American Communities Closes 3 MF Properties

PLANO, TX-The Dallas company's aggressive actions gained it Cornerstone Ranch and Laurel Ridge in Plano and Islands West in Irving, TX during a 28-day period.

By Amy Wolff Sorter | Updated on August 28, 2013

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.”

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