February 27, 2017
Westmount Realty Capital LLC sold the 270-unit Westmount at Vista Ridge, a Class A apartment property in Lewisville, TX. The Dallas-based seller acquired the asset in late 2013, and sold it a little more than three years later. The name of the Dallas buyer was not disclosed, nor was the sales price. The Denton Central Appraisal District values the asset at 2241 S. SH 121 Business at $29 million.
“Westmount acquired this asset in December 2013 and through unit interior upgrades and amenity upgrades, we were able to keep the property competitive with new developments in the neighborhood,” said Westmount’s Clifford A. Booth.
“In conjunction with an extensive $1.4 million renovation program, Westmount repositioned and re-branded the project as ‘Westmount at Vista Ridge,’ to enhance its appeal as a premier multifamily community for young professionals and families.”
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