Despite Caution, DFW Multifamily Still Shines with Investors

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.