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AmeriSouth Spends $2M for Third Multifamily Property in Austin

AUSTIN-The 100-unit Marshall Apartments sell for $20,000 per unit. Buyer AmeriSouth, a well-known Dallas repositioning pro, will put $1 million into a rehab at the 96%-occupied complex situated on the city's east side.

By Tim Green | Updated on October 29, 2002

AUSTIN-AmeriSouth Realty has picked up its third Austin apartment property with the acquisition of the 96%-occupied Marshall Apartments in the city’s east submarket.

With the purchase, AmeriSouth plans to spend $1 million to renovate the affordable-housing property, Ruel Hamilton, the company’s president, tells GlobeSt.com. The biggest expense will be the installation of air conditioning in the 100-unit complex. “That also requires a reworking of the electrical system,” Hamilton says. Dallas-based AmeriSouth also will paint the exterior, fix up interiors and put in new appliances.

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