Block Funds Acquires Luxury Community in Lewisville, Texas

Block Funds has announced that it has acquired Bella Madera, a 612-unit, Class A luxury apartment community in Lewisville, Texas, near State Highway 121 and Interstate 35E.

 By Joshua Ayers, Senior Editor

TAPG-2841-305 Kansas City, Mo.—Block Funds has announced that it has acquired Bella Madera, a 612-unit, Class A luxury apartment community in Lewisville, Texas, near State Highway 121, and Interstate 35E and the Dallas North Tollway. Block Multifamily Group, a division of Block Real Estate Services, will manage the garden-style community.

 Bella Madera, which was developed by Texas-based Westwood Residential and completed its lease-up in 2010, is located within a reasonable commuting distance to the nearby submarkets of Frisco and Plano and features an array of community and apartment amenities.

 “We really like the quality of the properties that they (Westwood) produce,” Aaron Mesmer, Block Funds principal, acquisitions, tells MHN. “We really like the asset and we like the opportunity in the submarket.”

 The community offers one- and two-bedroom floor plans that feature modern two-toned paint schemes, nine-foot ceilings, European cabinetry, gourmet island kitchens with upgraded fixtures, as well as bathrooms with wood-framed mirrors, ceramic tile and oval soaking tubs.

 Community amenities include a resort-style swimming pool with cascading water features and lounge area, club room with fireplace, executive business center, tanning studio, cardio center and lush landscaping.

 Mesmer says that the property aims to target “that professional that is on the go, but wants a nice place to come home to.”