The asset consists of one-, two- and three-bedroom apartments averaging 942 square feet per unit.
LEWISVILLE, TX—Rising interest rates and tempered rent growth have cautioned some investors and encouraged a more conservative approach to opportunities in the metroplex. More discernment is emerging based on a property's quality and location, and buyers are adjusting investment criteria as they consider the intricacies of today's market environment, according to a fourth-quarter 2018 multifamily report by Marcus & Millichap.
In the discerning purchase category is American Landmark, which has acquired Emery Bay at Lakepointe, a 360-unit garden-style asset located approximately 30 minutes north of Dallas. The loan amount was $36.59 million. Built in 1997, the property is located at 901 Lakeside Circle and consists of one-, two- and three-bedroom apartments, with an average unit size of 942 square feet.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
