Praedium Group Acquires Lewisville Luxury Community
- Dec 17, 2015
Dallas—Lewisville garden-style apartment community Pine Prairie Apartments has recently changed hands. New York City-based real estate investment firm The Praedium Group acquired the luxury property for an undisclosed amount.
Located at 951 Leora Lane, Pine Prairie Apartments is a 296-unit luxury community featuring one-, two- and three-bedroom apartments, as well as two-bedroom townhomes with garages. The property is directly off of the six-lane Sam Rayburn Tollway/State-Highway 121, a major roadway for the northern Dallas suburbs. Nearby entertainment attractions and recreational spaces include East Hill Park, The Colony Five Star Complex or The Lakes at Castle Hills.
Community amenities include a resort-style swimming pool, high-energy fitness center, resident business center and clubhouse, storage units, on-site maintenance, as well as a pet-friendly policy.
“The property’s extensive amenities should make it highly desirable for residents in the marketplace,” said Kelsey Durels, real estate private equity analyst at The Praedium Group. “Lewisville is in the center of a dynamic growth area with large employers such as the Plano, Lewisville, and Friscoschool districts, Berkshire Hathaway’s Nebraska Furniture Mart, HP Enterprise Services, Bank of America, Capital One, Toyota, PepsiCo, Frito-Lay, and the future Liberty Mutual and FedEx headquarters.”
Image courtesy of Pine Prairie Apartments