DALLAS--Newport Beach, Calif.-based MIG Real Estate has made its ninth multifamily acquisition in Texas. The company has purchased The Regency at Stonebridge Ranch, a 301-unit luxury townhome apartment community, in McKinney.

“MIG Real Estate recognized Regency at Stonebridge Ranch as an exciting opportunity to invest in a market with strong population and job growth,” said Greg Merage, CEO of MIG Real Estate, in a release. “Regency at Stonebridge Ranch offers a unique package of luxury amenities and value-add potential through interior upgrades in an area where multifamily housing is in high demand.”

Located at 2305 S. Custer Road, within the larger Stonebridge Ranch master-planned community, it is situated six miles east of McKinney's historic downtown, and residents have access to shops, restaurants and the McKinney Performing Arts Center.

“[The area] is attracting companies like Raytheon and Toyota from our own backyard in Southern California,” Marc Venegas, director of multifamily investments at MIG Real Estate, told GlobeSt.com.

The community consists of 42 two-story town home apartment buildings with one-, two-, three- and four-bedroom floor plans with direct access garages for all units. All units feature nine-foot ceilings, oversized closets, crown molding and a covered patio or terrace. The property's common area amenities include a resort-style pool with Jacuzzi and cold plunge, outdoor kitchen, freestanding clubhouse with fitness and business centers, pet park, playground and concierge services.

Prior to MIG Real Estate's purchase of Regency at Stonebridge Ranch, the company's most recent acquisition was Midtown Commons at Crestview Station, a mixed-use property consisting of 562 multifamily units and 58,883 square feet of commercial space in Austin.