August 19, 2019— American Landmark Apartments (American Landmark), one of the fastest-growing multifamily owner-operators in the country, has acquired Four Corners Apartments, a 390-unit garden style asset in Frisco, Texas. Completed in 2019, the community is considered a “best in class”” AAA quality asset.
The acquisition raises American Landmark’s portfolio count in Texas to 36 properties, with 17 properties in the Dallas metro area. The firm now owns and manages almost 29,000 units throughout the Southeast and Texas and is over half way to its goal of adding $2 billion in assets to its multifamily portfolio this year.
“The Dallas MSA continues showing signs of strong demand for the foreseeable future, most notably with its addition of more than 100,000 jobs over the past year and almost 75,000 new residents during that same period,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “It’s a market we’ve come to know well that offers compelling opportunities that fit within our current investment strategy.”
Located at 1690 FM 423 Road, Four Corners is situated in northern Dallas. One-, two- and three-bedroom units include stainless steel appliances, wood-style flooring, dishwasher, disposal, granite countertops, French doors and a kitchen island. Community amenities include a resort-style swimming pool, resident clubhouse, business center with internet, dog park, and onsite management.
Four Corners is found near important transit routes and employers. Dallas Parkway is 10 minutes away, offering direct access into the city’s central business district and its surrounding neighborhoods. Toyota Stadium – which hosts the FC Dallas soccer team – is less than 10 minutes away, and the University of Texas at Dallas is 25 minutes away.