Comunidad Partners, a vertically-integrated real estate investment firm that specializes in workforce and attainable housing communities in diverse neighborhoods throughout the Sunbelt region, has announces the acquisition of multifamily community Lakeshore at Preston Apartments in Plano, Texas. CBRE represented both Comunidad Partners as the buyer and Waterton as the seller in the transaction.
“Ty Barnes brings a depth of knowledge, exceptional reputation, and long-term industry relationships cultivated over 20 years of investment experience, with leadership roles concentrated in the workforce housing sector,” says Antonio Marquez, Principal and Managing Partner at the firm. “We value his expertise and perspective as we continue to identify acquisitions like our most recent addition, Lakeshore at Preston Apartments. By exploring opportunities to enhance communities, we’ll be able implement a triple bottom line that will benefit our residents, investors, and the communities we serve.”
In 2024, Plano, Texas, was ranked as one of the top four best cities in the U.S. to raise a family. The community’s prime location is one of the most sought-after submarkets in DFW due to Plano’s elite demographics, proximity to job centers, top rated school district and proximity to high quality retail, notes Barnes.
“There is a major single family home affordability crisis in Plano, which has a median home price of $545,000, with a down payment in excess of $100,000,” explains Ty Barnes, new head of investments for Comunidad Partners. “Coupled, these fundamentals are creating a high demand for institutionally owned and managed workforce housing. Lakeshore at Preston is uniquely set up to achieve strong occupancy rates and will benefit from Comunidad’s value-add plans to enhance classic units and exterior facelift, without causing financial pressures to residents.”
The recent Lakeshore acquisition comes as part of the Comunidad’s strategy to capitalize on strong market fundamentals in the Sunbelt region and reflects the firm’s ongoing commitment to growing its portfolio of workforce housing assets, Barnes notes.
Lakeshore at Preston Apartments provides a quality, gated community for workforce residents earning 80% to 100% of the area’s median income. Its unique amenities include a lake at the epicenter of the property; lounging areas; pickleball courts; and beach volleyball courts for resident use. The three-story community spans over 260,000 square feet and has a mix of one- and two-bedroom units. Interior amenities include all-electric kitchens, quartz countertops and fireplaces in select units.
Comunidad Partners is a vertically integrated real estate investment firm and a registered investment adviser (RIA) focused exclusively on workforce and attainable housing throughout the U.S., with a robust portfolio in the Sunbelt region. Comunidad strategically identifies and pursues investment opportunities that can contribute to the growth and sustainability of culturally diverse communities. The firm is actively growing its presence in Southwest and Southeast, targeting markets including Dallas, Austin, Phoenix, Charlotte, Raleigh, Atlanta, and other markets. A minority- and women-owned firm, Comunidad aims to provide improved opportunities and enriched living experiences for residents who live in communities that the company serves. The firm also employs market-leading impact initiatives focused on driving sustainable social and environmental value for all stakeholders and has earned the firm national recognition for its innovative impact strategies. Comunidad was named a Freddie Mac Impact Sponsor of the Year in 2021, is CORES SAHF certified, a UN PRI Signatory, and is a founding member of the Multifamily Impact Council.
