Legacy Partners, a privately held national real estate firm, and Pondmoon Capital Holdings USA today announced the groundbreaking on Merit, a 296-residence mixed-use community in Lewisville, Texas. The community is located on Interstate 35E, approximately 15 miles equidistant from the two largest office submarkets in the Dallas Fort Worth Metroplex: Las Colinas and the Upper Tollway, which includes the cities of Frisco and Plano. The community is scheduled to deliver mid-2023.
“The community’s location really cannot be surpassed,” said Matt Brendel, Senior Managing Director at Legacy. “Future residents will be less than 20 minutes from major employment centers, including Las Colinas, Frisco, and Plano, and only two miles from serene walks, bike rides, fishing, and other outdoor recreation at Lake Lewisville, the largest lake in North Texas. Merit is also within close proximity to historic Old Town Lewisville and the Shops at Highland Village, which offer numerous shopping, entertainment, and dining options.”
The Lewisville apartment community will feature one-, two-, and three-bedroom layouts ranging from 630 to 1500 square feet appointed with high-speed fiber internet, smart home technology, granite countertops, stainless steel appliances, work-from-home spaces, and private balconies or patios. The 11.1-acre site will also include three small restaurant spaces comprising a total of 2,300 square feet that share a large open-air patio overlooking a spacious public dog park nestled in natural terrain.
Residents will have access to a coworking space with private conference rooms, a resort-style pool, an
ultra-modern fitness center, and a convenient smart market that operates 24 hours a day. The petfriendly community also offers a dog spa, and a gaming courtyard with fire pit, ping pong table, and an outdoor grilling station.
“Merit is our fifth project in this region,” said Patrick Chen, CEO of Pondmoon Capital. “We’re particularly thrilled to partner with Legacy Partners on this exciting opportunity that will bring an elevated living experience to an area that has seen a dramatic increase in jobs and demand for apartment living. Rapid job growth and sustainable demand for rental residences are the main drivers for our focus on Sun Belt markets such as Texas and Southern California. We are confident that Merit will be another example of a high-quality residential community to meet market demand, as well as another success for our investors.”
Legacy recently delivered 880 LYN, a waterfront community in Las Colinas that is currently leasing, while the firm completes construction of a combined 844 residences at Ovation at Galatyn Park, in Richardson, and Camber Ranch on Parmer, in Austin.
About Legacy Partners
Legacy Partners (Legacy), a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops, and manages multifamily communities throughout the United States. Legacy has regional offices in California, Colorado, Florida, Georgia, Texas, and Washington, and has developed more than 66,000 apartment homes in Arizona, California, Colorado, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently delivering exceptional results.
Legacy provides management services for its own portfolio, as well as other owners. Combined, Legacy
manages a portfolio of over 54 multifamily communities with more than 12,000 apartment homes, and
with a gross value in excess of $3 billion. For further information, please visit legacypartners.com.
About Berkadia®
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.
About Pondmoon Capital
Founded in 2014, Pondmoon Capital, formerly known as JD Capital USA, is a privately held investment manager. Pondmoon Capital primarily focuses on investments in rental apartment development across major metropolitan areas in the U.S., including New York City, Washington D.C., Dallas, Chicago, Minneapolis, Los Angeles, San Francisco, and Atlanta. The firm’s total investment consists of over 2,800 apartment or hotel units and over two million square feet of apartment and retail space. Learn more about Pondmoon at pondmoon.com.
About Vanguard Real Estate Advisors
Vanguard Real Estate Advisors is a boutique investment advisory firm that leverages in-depth capital markets expertise along with extensive knowledge of property fundamentals in order to meet the transactional needs of their clients. Vanguard specializes in complex investment sales assignments, joint venture equity placement, and structured finance solutions. For additional information, please visit www.VanguardREA.com.
