American Landmark acquires four DFW apartments

​​​​DALLAS-FORT WORTH – ​​Tampa, Fla.-based ​​​​American Landmark Apartments has acquired four communities totaling 1,616 units across the Metroplex.

The properties are the:

• 490-unit Meadows at Bedford at 1400 Sierra Springs Dr. in Bedford;

• 440-unit Remington Hill Apartments at 5701 Overton Ridge Blvd. in Fort Worth;
  

• 226-unit Rock Ridge Apartments ​at 305 Ranch Dr. in Arlington; and
  

• 460-unit Summer Villas​ at 17717​ Preston Rd. in Dallas.
  

Other than Rock Ridge, which was built in 2003, all the properties were built in the 1980s and were between 91 and 96 percent occupied at the time of sale.

The five-property, $246.7 million portfolio also included a 232-unit asset near ​Nashville, Tenn. 

American Landmark will invest about $18 million in upgrading the properties.