Steadfast REIT Closes on Second Dallas-Area Community in Two Weeks

SteadfastA week after acquiring Monticello by the Vineyard in Euless, Irvine, CA-based Steadfast Apartment REIT re-entered the greater Dallas multifamily market to acquire the Lakeside at Coppell at 620 N. Coppell Rd. in Coppell for $60.5 million, or approximately $192,000 per unit.

Formerly named Regency by the Lake, Lakeside at Coppell is a 315-unit multifamily community comprised of one- to four-bedroom units across 45 two-story apartment buildings. The units average 1,221 square feet with average in-place rents of $1,698, and were 96.2% leased at the time of sale. On-site amenities include a clubhouse, pool, variety of sport courts, billiards room, fitness center with aerobic studio and classes, playground, business center and community garden. [CoStar]

 

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