DALLAS, June 28, 1999 (PRIMEZONE) -- National Realty, L.P. (ASE: NLP) announced Monday that the partnership is breaking ground this week on the first of two phases of its Lakeshore Villas luxury apartment project along the shores of Lake Houston.
Located near the Atascocita Country Club in Atascocita, Texas, more than half of Lakeshore Villas' 312 apartment homes to be built in phase one are lakefront or lakeview units. The complex will feature outstanding recreational facilities, including a jogging trail winding along the shoreline and tennis and volleyball courts. Initial leasing is expected in early 2000.
Capstone American Properties LLC, an affiliate of American Realty Trust, Inc. (NYSE: ARB), is providing contract development services to National Realty. KSNG Architects, Inc. of Dallas was the designer.
National Realty, L.P is a nationwide real estate investment partnership based in Dallas. American Realty Trust, Inc., a Dallas-based real estate investment company, holds a diverse portfolio of equity real estate located across the U.S. and has interests in mortgage loans and real estate-related entities. Both National Realty and American Realty are advised by Basic Capital Management, Inc.