Emery Bay at Lakepoint The asset consists of one-, two- and three-bedroom apartments averaging 942 square feet per unit.

LEWISVILLE, TX—Rising interest rates and tempered rent growth have cautioned some investors and encouraged a more conservative approach to opportunities in the metroplex. More discernment is emerging based on a property’s quality and location, and buyers are adjusting investment criteria as they consider the intricacies of today’s market environment, according to a fourth-quarter 2018 multifamily report by Marcus & Millichap.

In the discerning purchase category is American Landmark, which has acquired Emery Bay at Lakepointe, a 360-unit garden-style asset located approximately 30 minutes north of Dallas. The loan amount was $36.59 million. Built in 1997, the property is located at 901 Lakeside Circle and consists of one-, two- and three-bedroom apartments, with an average unit size of 942 square feet.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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