Preferred Apartment Communities has completed the acquisition of Alleia at Presidio, a 231-unit class A multifamily community in Fort Worth. The financial terms were not disclosed.
Jeff Sherman, the company’s president of multifamily, said, “Alleia marks our re-entry into the Dallas–Fort Worth metroplex, which continues to lead the nation in total population growth.”
Sherman added, “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 5 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.”
John Isakson, CFO of Preferred Apartment Communities, commented, “Alleia represents another accretive acquisition for our multifamily portfolio from a high-quality developer we have done multiple transactions with previously. We are excited to continue to grow
