DALLAS—Mill Creek Residential, along with AEW Capital Management L.P., has purchased Lakewood on the Trail a 352-apartment, garden-style apartment community.
The acquisition, is part of a larger deal executed on behalf of the Dallas-based developer. The price was not disclosed. The Dallas Business Journal says it is pare of the JV’s strategy, which has it purchasing complexes throughout the country in areas that are primed for development.
“Mill Creek’s acquisition philosophy is to acquire high-quality communities with redevelopment potential in irreplaceable locations in markets where we’re actively developing new communities,” said Wes Dickerson, managing director of acquisitions for Mill Creek, in a written statement.
Mill Creek is currently nearling completion of one of its newest communities, Avenue H Apartments, in Dallas’ Knox-Henderson neighborhood.
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