An affiliate of Livingston Street Capital, a boutique private equity firm focused on commercial real estate investments throughout the U.S., has acquired a 180-unit 55+ active adult apartment community in the Dallas-Fort Worth submarket of Lewisville, Texas.
The property, which the firm has rebranded as Haven at Lewisville Lake, is the first Texas addition to Livingston’s geographically diverse 55+ active adult and independent living portfolio and brings the firm’s total unit count in the sector to nearly 1,000 units, according to Peter Scola, founder and Co-CEO of Livingston Street Capital.
“The acquisition of Haven at Lewisville Lake is ideally aligned with our strategy to acquire active adult communities in affluent suburbs within major metro areas that appeal to 55+ residents seeking convenience and high quality of life,” says Scola. “Lewisville was attractive based on its central positioning between Dallas and Fort Worth and strong, rising home values. Additionally, the 55+ age group within a five-mile radius of the property is expected to grow by 21.5 percent over the next five years, driving up demand further.”