{"id":1004125973,"date":"2015-08-25T06:15:53","date_gmt":"2015-08-25T14:15:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004125973"},"modified":"2022-12-08T09:06:07","modified_gmt":"2022-12-08T17:06:07","slug":"amstar-transwestern-part-ways-with-austin-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/","title":{"rendered":"Amstar, Transwestern Part Ways with Austin Property"},"content":{"rendered":"<p><em>By Anna Spiewak, Senior News Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004125983\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/the-704\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg\" data-orig-size=\"1024,683\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;16&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 60D&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1404547305&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;10&quot;,&quot;iso&quot;:&quot;250&quot;,&quot;shutter_speed&quot;:&quot;3.2&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"the 704\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg?w=1024\" class=\"alignright size-medium wp-image-1004125983\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg\" alt=\"the 704\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/em><\/p>\n<p>Denver-based real estate manager Amstar, acting on behalf of one of its public retirement system clients, and its partner Transwestern Develeopment Co. have built it and now decided to sell\u00a0The 704, a Class A mixed-use apartment development\u00a0in Austin.<\/p>\n<p>The 378-unit multi-family property with\u00a020,000 square feet of retail and restaurant space, located at 3401 S. Lamar surrounds the famed Broken Spoke, a Texas country-western\u00a0dance hall. Amstar and Transwestern Development Co. acquired the 7-acre site in May 2012 and built the property.<\/p>\n<p>&#8220;With The 704 now 97 percent leased, it was perfect timing to bring the asset to market, Josh Delk, associate vice president, Transwestern Development Co. told <em>Commercial Property Executive<\/em>. &#8220;Austin is an attractive market for investors due to its low vacancy and rising rents, presenting favorable conditions to market The 704.&#8221;<\/p>\n<p>The property&#8217;s other retail space is leased to several local and national tenants, such as aRoma Italian Kitchen and World of Beer tavern. The\u00a0residential community features an ozone-filtered, resort-style pool \u00a0and a separate 25-yard lap pool, according to Transwestern&#8217;s prepared statement.<\/p>\n<p>&#8220;The 704 is an excellent case study for Amstar&#8217;s develop-to-core strategy. Transwestern best-in-class developer with local expertise, presented Amstar with the opportunity and we were quick to recognize the value in this dynamic neighborhood,&#8221; said Amstar Managing Director Daniel Cohen in a prepared statement. &#8220;The partnerhsip delivered an exceptional project, which led to a quick stabilization and a favorable opportunity to exit. We look forward to working with Transwestern on future developments.&#8221;<\/p>\n<p>No improvements will be be made to the property since construction was completed in 2014, according to Delk.<\/p>\n<p>The 704\u00a0is not the sole project\u00a0that Amstar and Transwestern Development Co. have worked on together. The two also teamed up on\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/southwest\/transwestern-increases-m-f-focus-teams-with-amstar-to-build-apartments-in-san-antonio\/1004110194.html\" target=\"_blank\" rel=\"noopener\">a 229-unit, Class A apartment building <\/a>in San Antonio back in December.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Development partners Amstar and Transwestern Development Co. have built it and now are selling the Class A property.<\/p>\n","protected":false},"author":952,"featured_media":1004125983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21752,21742],"tags":[],"class_list":["post-1004125973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-mixed-use","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amstar, Transwestern Part Ways with Austin Property - 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\/amstar-transwestern-part-ways-with-austin-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amstar, Transwestern Part Ways with Austin Property\" \/>\n<meta property=\"og:description\" content=\"Development partners Amstar and Transwestern Development Co. have built it and now are selling the Class A property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/\" \/>\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=\"2015-08-25T14:15:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:06:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/\",\"name\":\"Amstar, Transwestern Part Ways with Austin Property - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg\",\"datePublished\":\"2015-08-25T14:15:53+00:00\",\"dateModified\":\"2022-12-08T17:06:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg\",\"width\":1024,\"height\":683},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Amstar, Transwestern Part Ways with Austin Property\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1bbb99675c2609ea2e6792f8b25d7b76\",\"name\":\"Anna Spiewak\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g\",\"caption\":\"Anna Spiewak\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/annaspiewak\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Amstar, Transwestern Part Ways with Austin Property - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/","og_locale":"en_US","og_type":"article","og_title":"Amstar, Transwestern Part Ways with Austin Property","og_description":"Development partners Amstar and Transwestern Development Co. have built it and now are selling the Class A property.","og_url":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-08-25T14:15:53+00:00","article_modified_time":"2022-12-08T17:06:07+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg","type":"image\/jpeg"}],"author":"Anna Spiewak","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/","url":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/","name":"Amstar, Transwestern Part Ways with Austin Property - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg","datePublished":"2015-08-25T14:15:53+00:00","dateModified":"2022-12-08T17:06:07+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1bbb99675c2609ea2e6792f8b25d7b76"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg","width":1024,"height":683},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/amstar-transwestern-part-ways-with-austin-property\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Amstar, Transwestern Part Ways with Austin Property"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1bbb99675c2609ea2e6792f8b25d7b76","name":"Anna Spiewak","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ca81c045f3cbec45b685f13082ecf7d9870a1909fe3ec2d4d15b1dea4897f406?s=96&d=mm&r=g","caption":"Anna Spiewak"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/annaspiewak\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/the-704.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004125973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/952"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004125973"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004125973\/revisions"}],"predecessor-version":[{"id":1004625439,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004125973\/revisions\/1004625439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004125983"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004125973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004125973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004125973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}