PLANO--The Praedium Group, a New York City-based real estate investment firm, has acquired Legends at Chase Oaks, a 346-unit luxury multifamily complex located in Plano.

“The southwest region is a major focus for our company and we feel very confident in this market's continued growth,” says Praedium's Mark Lippmann. “The rapid job expansion of two nearby employment centers – Legacy Business Park and the telecom corridor – is driving demand for quality housing options, and Legends at Chase Oaks is well-positioned to benefit from these trends.”

Legends at Chase Oaks is a garden-style apartment community surrounded on three sides by Watters Creek Golf Course. The community boasts a high percentage of units with direct-access garages and features a low-density site plan with ten units per acre. The complex is composed of large, one-, two- and three-bedroom homes with nine-foot ceilings, walk-in closets and connections for full-size washers and dryers. While Praedium is planning to invest in a number of capital improvements including unit upgrades with high-end interior renovations and finishes, current amenities include a recently renovated clubhouse with business center and 24-hour fitness center and resort-style pool.