Austin
Work Begins on 36-story Apartment Tower in Downtown Austin
A partnership comprising San Antonio-based Lynd and Austin-based Endeavor Real Estate Group broke ground last week on a planned 36-story tower that will add 358 luxury units to downtown Austin. Developers plan to complete the project in the third quarter of 2014.
Lynd, Endeavor Start 36-Story Apartment Tower in Austin
Lynd, of San Antonio, and Endeavor Real Estate Group, of Austin, have begun construction on The Bowie, a 36-story, 358-unit luxury apartment building in downtown Austin.
Austin Apartment Community Changes Hands in $35M Deal
The Dayton-based Connor Group recently purchased 290-unit River Oaks—a 40-acre gated apartment community located at 6607 Brodie Ln.—for $34.6 million. Built in 1997, the property includes amenities like a pool, spa, volleyball court and basketball court. The multifamily deal marks the second acquisition in Austin by the real estate investment firm.
New Federal Courthouse Opens in Austin; $304M Apple Campus Underway
Austin’s federal courthouse has found a new home in an eight-story, 252,420-square-foot building of stone and glass. Located in the downtown area, the $123 million project opened three years and three months since breaking ground in 2009. Sitting on the site of the old Shell building, the new facility features eight courtrooms and chambers for 10 judges, compared to the four courtrooms and four chambers at the old Eighth Street location.
American Campus Closes on Student Housing Portfolio Purchase for $863M
American Campus Communities of Austin, Texas, has closed on its $863 million purchase of a 19-property, 12,049-bed student housing portfolio from affiliates of Kayne Anderson Capital Advisors, of Los Angeles and Armonk, N.Y.
340 Luxury Apartments to be Built on South Lamar
South Lamar Boulevard is swarming with construction projects that will add circa 1,300 new apartments and more than 100,000 square feet of restaurants and shops south of downtown. One of these projects is developed by Hanover Co., which is expected to soon break ground on a luxury apartment project just south of the popular Uchi restaurant.
HFF Arranges JV Equity for M-F Development in Austin
HFF has arranged a joint venture between the Hanover Co. and an unnamed private investor to build a five-story multi-housing community on 3.44 acres in the city’s South Lamar neighborhood.
Velocis Buys Two Austin Shopping Centers in $60M Deal
Dallas-based Velocis, a commercial real estate investment fund, recently purchased two Austin shopping centers totaling over 350,000 square feet of retail space. With the acquisition of West Woods Shopping Center and Springdale Shopping Center, Velocis now has circa $160 million of assets under management.
Los Angeles Company Buys 2,044-unit Riata Apartment Complex in Northwest Austin
Los Angeles-based IMT Capital LLC, along with affiliate IMT Residential, has made its largest acquisition ever, closing a deal on the 2,044-unit Riata apartment complex. The deal represents one of the largest apartment portfolios ever sold in Austin, according to the Austin Business Journal. The portfolio had been on the market since July, when news broke that CBRE Group Inc. was chosen to list the property on behalf of Hunt Investment Management.
AMLI Residential to Add 279-unit Building to Mueller Community
AMLI Residential has announced it will build a 279-apartment building at the Mueller master-planned community in Northeast Austin. Continue reading →