Marking its tenth acquisition in Texas in just three years, Aragon Holdings (www.AragonUSA.com) has purchased Rockbrook Creek Apartments, a 342-unit Class A multi-family property located in Lewisville, Texas, in the desirable northwestern area of Dallas.

Marking its tenth acquisition in Texas in just three years, Aragon Holdings (www.AragonUSA.com) has purchased Rockbrook Creek Apartments, a 342-unit Class A multi-family property located in Lewisville, Texas, in the desirable northwestern area of Dallas.


The property, built in 2000, is currently 95% occupied. Situated near Interstate 35, it is within a few miles of multiple employment centers, including JP Morgan Chase, Fidelity Investments, Wal-Mart, SYSCO Foods, and the Lewisville Medical Center. Dallas is home to 24 Fortune 500 companies, the third-highest concentration of corporate headquarters in the US (after New York and Chicago). During the past 12 months the region has added more than 50,000 new jobs.


The project's amenities include gated access, individual garages, a clubroom, business center, fitness center, swimming pool, billiards and game room, sauna, library, and scenic hiking trails. Apartments feature designer kitchens, vaulted and 9-foot ceilings, tiled entries, oversized closets, wine racks, security alarms and other amenities.


The transaction is Aragon's eleventh apartment acquisition in the last three years, bringing its total holdings to nearly 3,000 apartment units. Last month the firm announced the purchase of its first multi-family property in Kansas City, Missouri, the 322-unit Timber Lakes at Red Bridge. All of Aragon's transactions are funded with private equity.


"The acquisition of Rockbrook Creek, located in economically robust Denton County, exemplifies our continuing focus on making strategic acquisitions of highly desirable properties in markets that maintain healthy economies," said Larry Clark, president of Aragon Holdings.


Mr. Clark noted that Denton County, where Lewisville is located, grew by more than 55% between 2000 and 2010, to a population of more than 672,000, and is projected to grow an additional 17% by 2015. In the immediate area around Rockbrook Creek the average age of residents is 33 and 47% have college degrees with a median annual household income over $85,000.


Mr. Clark said Aragon Holdings is actively seeking to purchase additional multi-family properties in Texas as well as throughout the Central and Western regions of the United States.
"Both the demographics and the housing preferences of American families are changing," Mr. Clark said. "There has been a significant increase in the propensity to rent rather than own, and we expect that to continue. The shift in preference, combined with the very low rate of new housing construction, will result in a steadily increasing demand for apartment housing.


We believe these favorable elements of both demand and supply will cause apartment properties, in well-selected areas, to outperform many other investment alternatives."
Aragon's rapid growth resulted in its inclusion in the ranks of the "Top 100 Buyers of 2009" for multi-family properties, as reported by the respected research firm Real Capital Analytics, Inc. The study, which tracked all U.S. multi-family transactions valued at more than $2.5 million, placed Aragon Holdings at #5 in number of properties purchased.


Aragon Holdings is a Real Estate Investment Company based in Beverly Hills, California, that acquires and manages income producing assets throughout the United States on behalf of high net worth investors.