Carrollton transit project goes to Florida apartment investor

A transit-oriented Carrollton project has been purchased by a Florida-based investor.

The four-story Switchyard apartments were built in 2017 on Broadway Street on College Avenue, east of Interstate 35E.

The 234 unit rental community is across from downtown Carrollton DART S-Bahn. And the location is at the intersection with the planned Cotton Belt passenger rail line, which will lead to Dallas Fort Worth International Airport.

Developer Stoneleigh Cos. and Realty Capital built the two-story apartment building.

Now, American Landmark Apartments, based in Tampa, has bought the rental community, according to the records of the county deeds.

American Landmark Apartments owns more than 30,000 rental units in Florida, North Carolina, South Carolina, Tennessee, and Texas.

In North Texas, the investor owns more than a dozen apartment properties that stretch from Collin County to Fort Worth.

The Dallas-Fort Worth area leads the country in home purchases this year, with nearly $ 16 billion in transactions in the first nine months of 2021.

The Switchyard Apartments are located in downtown Carrollton just east of I-35E. They were built from 2017.(Switchgear)