DALLAS--(BUSINESS WIRE)--American Communities, a real estate firm that focuses on the acquisition, development and management of multi-family communities in select markets, announced today that it recently acquired the multi-family housing property, Chaparral Creek, which is located at 3701 N. O’Connor Rd., in Irving, Texas. The property marks the fourth multi-million dollar real estate investment for the Dallas-based firm, which was founded in May 2012.
“Chaparral Creek in Las Colinas fits perfectly with our growing real estate portfolio”
“Chaparral Creek in Las Colinas fits perfectly with our growing real estate portfolio,” said Ronny Guerrero, CEO and president of American Communities. “Our team’s been in the real estate market for over 20 years. We’ve been able to leverage our experience to identify and acquire properties that fall into the aggressive growth strategy we’ve set for our firm. American Communities has a proven track record for turning non-performing, multi-family properties into rewarding investments.”
Located on 30 acres adjacent to the Four Seasons Hotel & Resort and across from the Las Colinas Country Club, Chaparral Creek is a multi-family community that boasts over 500 residential apartments that feature one and two bedroom floor plans. The property also features a newly renovated, state-of-the-art fitness club, community center, four pools, lush landscaping with trees, covered parking and onsite laundry facilities. As of December 2012, American-Communities is well ahead of financial projections for the newly acquired property.
“Acquiring Chaparral Creek reflects the high level of experience that American Communities has in defining and leveraging opportunities in this market,” added Guerrero. “It also speaks volumes of the trust our private investors have in our management team and our success as a company. We’re excited to have our name attached to Chaparral Creek and look forward to instilling our culture of success within the management and service staff at this new location.”
About American Communities
American Communities is a Dallas-based real estate firm that focuses on the acquisition, development and management of multi-family communities in select markets. The firm is the result of the long-time vision of American Communities founder, Ronny Guerrero. Since its founding, the firm has partnered with a number of high capital, independent entrepreneurs who provide American Communities a foundation for long-term financial stability and growth. For a high res image of Chaparral Creek email Aaron Cook at ACook@TPRM.com. Visit www.American-Communites.com for more information.