{"id":1004121711,"date":"2015-06-22T07:00:57","date_gmt":"2015-06-22T15:00:57","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353456"},"modified":"2022-12-09T01:47:15","modified_gmt":"2022-12-09T09:47:15","slug":"value-add-strategy-drives-major-multifamily-buy-in-n-austin","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/value-add-strategy-drives-major-multifamily-buy-in-n-austin\/","title":{"rendered":"Value-Add Strategy Drives Major Multifamily Buy in N. Austin"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">Two large value-add properties located in North Austin are under new ownership.<\/p>\n<div id=\"attachment_353458\" class=\"wp-caption alignleft\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/The-Villages-of-Sage-Creek.png\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-353458\" title=\"The Villages of Sage Creek\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/The-Villages-of-Sage-Creek.png\" alt=\"The Villages of Sage Creek\" width=\"300\" height=\"225\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">The Villages of Sage Creek<\/p>\n<\/div>\n<p style=\"text-align: justify\">Montgomery, Ala.-based B&amp;M Management Co. acquired the 450-unit Villages of Sage Creek and the 460-unit Park at Walnut Creek from\u00a0Whole Life Management Co. of Dallas.\u00a0The assets were marketed as the North Austin 2000\u2019s Portfolio. Patton Jones of Austin-based ARA Newmark represented Whole Life in the transaction.<\/p>\n<p style=\"text-align: justify\">The residential complexes were built in the early 2000\u2019s as Class A communities in Austin\u2019s Far North submarket. Village of Sage Creek, located at 12820 N. Lamar Blvd., offers 11 floor plans that range from 636-square-foot, one-bedroom apartments to 1,441-square-foot, three-bedroom units.<\/p>\n<p style=\"text-align: justify\">Located at 12001 Dessau Rd.,\u00a0Park at Walnut Creek comprises 14 floor plans ranging from 696-square-foot, one-bedroom units to 1,630-square-foot, three-bedroom apartments. Both communities offer pet parks, swimming pools, business centers, fitness centers, and garages. Positioned in the Silicon Hills employment area, the residential complexes are close to such retail and entertainment venues as Tech Ridge Center, The Domain, and La Frontera.<\/p>\n<p style=\"text-align: justify\">\u201cThis portfolio was sought after by institutional and private investors seeking an early 2000\u2019s value-add opportunity and the ability to acquire 900+ units in one transaction,\u201d said ARA Newmark&#8217;s\u00a0Jones in a statement. \u201cInvestors were drawn to North Austin\u2019s robust employment base, excellent area demographics, and the proximity to three premier retail and entertainment destinations.\u201d<\/p>\n<p style=\"text-align: justify\"><em>Photos courtesy of sagecreekapts.net.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two large value-add properties located in North Austin have changed ownership. The assets were marketed combined as the &lsquo;North Austin 2000&rsquo;s Portfolio&rsquo;.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742],"tags":[],"class_list":["post-1004121711","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Value-Add Strategy Drives Major Multifamily Buy in N. Austin - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/value-add-strategy-drives-major-multifamily-buy-in-n-austin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Value-Add Strategy Drives Major Multifamily Buy in N. Austin\" \/>\n<meta property=\"og:description\" content=\"Two large value-add properties located in North Austin have changed ownership. The assets were marketed combined as the &lsquo;North Austin 2000&rsquo;s Portfolio&rsquo;.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/value-add-strategy-drives-major-multifamily-buy-in-n-austin\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-22T15:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:47:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/The-Villages-of-Sage-Creek.png\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-add-strategy-drives-major-multifamily-buy-in-n-austin\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/value-add-strategy-drives-major-multifamily-buy-in-n-austin\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Value-Add Strategy Drives Major Multifamily Buy in N. 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