Trion Properties has recently acquired Riverbend Apartments, a 471-unit garden-style community in Lancaster, Texas from Ambo Properties. The acquisition was made possible with the help of a $40 million loan secured by First-Citizens Bank & Trust Co.
According to Multihousing News, Trion’s entry into the state was marked by this off-market deal which involved two formerly separate properties – Riverbend and Hunter’s Creek (181 units and 328 units respectively). This acquisition adds to Trion’s portfolio of 85 properties as they continue their expansion.
Built in 1984 on a sprawling 28.8 acres of land, Riverbend Apartments features one- and two-story buildings housing one- and two-bedroom floorplans ranging from 695 to1,085 square feet. Residents can enjoy amenities such as playgrounds and three swimming pools along with ample parking space for up to800 vehicles.
Conveniently located at1000 River Bend Drive near Lancaster Plazaand Blue Grove Plaza shopping centers offering various dining optionsand retail stores. Downtown Dallas is only16 miles away while DFW International Airport is about32 miles away making it an ideal location for residents who need easy access to major areas.
