Oct 7, 2016
Steadfast REIT wades Rockwall water with 334-unit community
ROCKWALL - Steadfast Apartments REIT has acquired Lake Ray Hubbard, a 334-unit apartment complex at 1650 S. John King Blvd.The 375,000-sf multifamily community consists of one- to four-bedroom apartments that...
ROCKWALL – Steadfast Apartments REIT has acquired Lake Ray Hubbard, a 334-unit apartment complex at 1650 S. John King Blvd.
The 375,000-sf multifamily community consists of one- to four-bedroom apartments that average 1,118 sf with monthly rents listed at an average of $1,603.
Currently 96 percent leased, the 42-building, garden-style community was completed in 2009 on a 32.65-acre site just south of I-30 and roughly 25 miles northeast of Dallas in the Rockwall County Multifamily submarket.
The acquisition marks the eighth investment in Texas for Steadfast, which plans to upgrade a number of units and rebrand Lake Ray Hubbard to Sixteen50 @ Lake Ray Hubbard.
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