American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces the acquisition of Domain at Founders Parc and Alta Spring Creek, two brand new apartment communities encompassing a total of 510 units. Alta Spring Creek will be renamed The ReVe, and both properties will undergo a combined $750,000 in capital improvements throughout the interiors and exteriors.
The acquisitions expand American Landmark’s 45 properties throughout Texas and 20 properties in the Dallas-Fort Worth area.
“As in-migration and job numbers bolster Dallas-Fort Worth fundamentals, the acquisition of these two new properties will allow for a compelling hold period with upside potential as demand continues to support the region’s multifamily market,” said Christine DeFilippis, Chief Investment Officer of American Landmark Apartments. “The confidence that others are bringing to Dallas will further the demand for multifamily, as upcoming projects like a new Texas Instruments plant and the redevelopment of Collin Creek Mall bring jobs and economic expansion to the surrounding area.”
Built in 2020, Domain at Founders Parc is located at 880 W Euless Park. One-, two-, and three-bedroom units include stainless steel appliances, large closets, contemporary cabinets and fixtures, and wood-style flooring. Community amenities feature a swimming pool and clubhouse with Wi-Fi, a business center, clubhouse, elevators, and a pet play area.
Built in 2020, Alta Spring Creek is situated at 6310 Naaman Forest Boulevard. Studios, one-, two-, and three-bedroom units include storage units, walk-in closets, USB charging ports, Wi-Fi, and washer/dryer. Community amenities feature door-to-door package delivery, outdoor entertainment space with a grilling station, a 24/7 athletic studio, private meeting and conference spaces, and a fire pit area.