Austin-Area Multifamily Asset Trades Hands
GEORGETOWN, Texas, Aug. 28, 2017 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announces the sale of Vantage at Georgetown, a 288-unit multifamily asset in Georgetown, Texas.
“Vantage at Georgetown offers top-of-the-market amenities and unit features in a high-growth market,” says Will Balthrope, executive director. “The property’s location at the epicenter of expansion and growth in suburban Austin draws a continuous pool of potential renters.”
Balthrope, and Jordan Featherston, associate, represented the seller, Housing Development and procured the buyer, Pensam Residential.
“Vantage at Georgetown’s strategic location, coupled with Georgetown/North Austin’s expanding population and strong job market, places it in an excellent position to provide new ownership with long-term stability and value appreciation,” adds Featherston.
The apartment complex is located near Interstate 35 and the State Highway 130 Tollway within the 284-acre master-planned development, Longhorn Junction, which is anchored by a $450 million data center owned by Citigroup Inc. Well-known Texas grocer, H-E-B, plans to build on a 21-acre site just north of the property and Wolf Ranch Town Center, a 627,284-square-foot shopping center is nearby.