Westmount Realty Capital Announces Sale of 291,240-Square-Foot Class 'A' Multifamily Community

Press Release (ePRNews.com) - DALLAS - Feb 23, 2017 - Westmount Realty Capital, LLC (http://westmountrc.com/)(Westmount), a Dallas-based real estate investment company, is pleased to announce the sale of Westmount at Vista Ridge, a Class “A” garden-style apartment community locatedat 2241 South Business Highway 121 in Lewisville, Texas. The community, which was constructed in 2006/07, consists of multiple three-story buildings with a total of 270 units and 291,240 square feet, situated on 11.7 acres, with 23 units per acre.

“Westmount acquired this asset in December 2013 and through unit interior upgrades and amenity upgrades, we were able to keep the property competitive with new developments in the neighborhood,” Clifford A. Booth, president and CEO of Westmount said. “In conjunction with an extensive $1.4 million renovation program, Westmount repositioned and re-branded the project as ‘Westmount at Vista Ridge’ to enhance its appeal as a premier multifamily community for young professionals and families.”

Westmount at Vista Ridge is well suited for families with nearly two-thirds of its 270 units ranging in size from two- and three-bedrooms, as well as the community’s inclusion in the Lewisville Independent School District (Lewisville ISD), which has a long-standing tradition of educational excellence.  More than 40 Lewisville ISD schools have received an “Exemplary” rating by the Texas Education Agency and six Lewisville ISD schools are part of the National Blue Ribbon Schools of Excellence, the highest designation a school can earn from the U. S.  Department of Education.

Positioned in close proximity to DFW Airport and the Highway 121 Office Corridor, the community’s location offers retail shopping with Grapevine Mills Mall and Vista Ridge Mall nearby.  Area hotels include The Gaylord Texan Resort and Great Wolf Lodge, and recreational amenities are available from nearby 8,000-acre Lake Grapevine and 29,000-acre Lake Lewisville.

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About Westmount Realty Capital

Westmount Realty Capital, LLC (“WRC”) is a time-tested, privately held, Dallas-based commercial real estate company that has achieved exceptional performance, with a core team in place, for more than 30 years.  Westmount is seen as an innovator and leading edge company in the industry and is a trusted partner of numerous U.S. and foreign institutional and private capital sources. The company is active nationally, specializing in value add and opportunistic investments, and has navigated successfully through multiple market cycles. For additional information, contact www.westmountrc.com.

Source : Westmount Realty Capital, LLC

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CATEGORIES : Real Estate
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