DALLAS – Landmark Apartment Trust of America, a multifamily real estate investment trust (REIT), acquired two multifamily properties in separate transactions for a combined purchase price of $33.5 million. In the first transaction, LATA acquired Landmark at Preston Wood, a 194-unit apartment community located at 333 Preston Wood Drive in Richardson, Texas, a suburb of Dallas. Formerly known as Mission Preston Wood, the property was built in 1979.
In the second transaction, LATA acquired Landmark at Lyncrest Reserve, a 260-unit apartment community located at 100 Belle Valley Drive in Nashville, Tenn. Formerly known as Mission Bellevue Ridge, the property was built in 1985.
With the acquisition of Landmark at Preston Wood, the Richmond, Va/-based REIT’s portfolio now boasts 14 apartment communities in the Dallas/Ft. Worth market. Landmark at Lyncrest Reserve marks LATA’s third acquisition in Nashville since the Company first entered Tennessee in July 2013.