Preferred Apartment Communities Inc. (NYSE: APTS), a publicly traded real estate investment trust and sponsor of alternative investments, has purchased Alleia at Presidio, a 231-Unit Class A multifamily property in Fort Worth, Texas. The purchase price was not disclosed.
Alleia at Presidio is comprised of one-, two-, and three-bedroom units and includes a saltwater pool, poolside cabana with firepit and grilling area, a two-story fitness center, dog park and pet spa, cinema theater, Starbucks coffee bar, car care center, among other amenities.
“Alleia marks our re-entry into the Dallas-Fort Worth metroplex, which continues to lead the nation in total population growth,” said Jeff Sherman, president of multifamily. “This property checks so many boxes for us; it is surrounded by affluent demographics, is located in a top-rated school district, is less than five miles from two hospital systems and is walkable to Presidio Towne Crossing, a destination retail center including a Costco, Target and numerous restaurants and services.”
In other company news, Preferred Apartment Communities recently purchased The Ellison, a 250-Unit Class A multifamily community in the Atlanta suburb of Kennesaw, Georgia.
Preferred Apartment Communities invests primarily in Class A multifamily properties, with select investments in grocery-anchored shopping centers and Class A office buildings. As of March 31, 2021, the company owned or was invested in 117 properties in 13 states, predominantly in the Southeast region of the United States.