DALLAS, TX - Weidner Apartment Homes, a real estate investment and property management company, acquired the community, Lakewood on the Trail Apartments in Dallas, TX, from Mill Creek Residential, on Wednesday, March 9, 2022. Lakewood on the Trail is a garden-style community built in 1987, comprising 28 buildings; 26 one and two-story residential structures, one two-story leasing office, and one pool house and boiler building. The asset sits on 11.5 acres and holds 352 units with 258,316 square feet of rentable space. Weidner’s acquisition of Lakewood on the Trail marks their third property in Dallas, sixth community in the Dallas/Fort Worth metroplex, and 31st property in Texas.
Lakewood on the Trail is located at 101 N Brookside Drive Dallas, TX 75214, in the Lakewood neighborhood, ten minutes from downtown. The area is known for its historic architecture and mature parks adjacent to the Lakewood Country Club. The site offers residents immediate access to neighboring amenities, including the Dallas Arboretum, White Rock Lake, and the Santa Fe Trail. Nearby casual and high-end shopping and dining venues can be found at the Lakewood Shopping Center, the Lower Greenville Entertainment District, and the Knox-Henderson District. Dallas has been ranked as the second fastest-growing economy in 2019 and has added nearly 128,000 jobs in the past three years. Residents live minutes from career opportunities in the Uptown neighborhood, the Dallas Central Business District, the Arts District, and the Baylor University Medical Center. Additionally, the property feeds into Dallas ISD, one of Dallas’s highest-rated school districts.
Lakewood on the Trail offers eight floor plans of one and two-bedroom homes ranging in sizes between 470 to 876 square feet. The community was updated in 2016 to modernize the homes without losing the neighborhood’s maturity. Each home provides luxury kitchens with a full appliance package, high-end finishes, in-unit washers and dryers, and private patios or balconies. The community amenities include three resort-style swimming pools, a resident clubhouse, a state-of-the-art fitness center, an outdoor kitchen with fire pits, and a business center with a coffee/tea bar. The property also offers 491 parking spaces, which are a blend of covered and open surface parking.
Lakewood on the Trail Apartments was purchased and will be managed by Weidner Apartment Homes. Weidner is recognized industry-wide as an efficient provider of quality rental homes and a creative developer of new housing.
About Weidner Apartment Homes: Founded by W. Dean Weidner in 1977, Weidner Apartment Homes is a real estate investment and management company, recognized industry-wide as an efficient provider of quality rental homes and a creative developer of new housing. To provide the benefits of regional and economic diversity, their properties are located in Alaska, Arizona, Arkansas, California, Colorado, Minnesota, North Dakota, Oklahoma, Texas, Utah, Washington, Wisconsin, and Canada. The company is headquartered in Kirkland, WA. For additional information, visit www.weidner.com or e-mail info@weidner.com