Canadian-based Pure Multi-Family REIT LP has purchased two multi-family apartment communities in Dallas.

Livingston Apartments consists of 180 residential units on approximately 12 acres of land. Fountainwood Apartments is comprised of 288 residential units on close to 14 acres of land. Both are located in the Dallas Fort-Worth region, which, according to the U.S. Census Bureau, had the largest population gain in the country from 2011 to 2012.

“We are extremely pleased to be adding these two Dallas market properties to our core portfolio,” says Pure Multi-Family REIT’s CEO, Steve Evans. “These class-A properties have had very high occupancy levels.”

Livingston and Fountainwood were purchased for $45.3 million. The REIT funded the acquisition with equity from the bought deal offering, and with partial proceeds from new first mortgages worth $29.9 million US, at a weighted average interest rate of 3.94 per cent per annum.

The acquisition of these two apartment communities brings the REIT’s portfolio to 12 multi-family properties, with 3,572 units in 253 buildings.