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NYC Buyer Snags 290-Unit Robertson Hill

AUSTIN-The pension fund claims the just-completed, class A, luxury complex from developer Martin Fein Interests.

By Amy Wolff Sorter | Updated on December 18, 2008

AUSTIN-Developer Martin Fein Interests Ltd. has sold the recently completed, 290-unit Robertson Hill Apartments. A New York City pension fund buyer who is active in the Austin market took the class A complex through an off-market transaction.

“It wasn’t Fein’s intention to sell this when they first planned it. “The buyer made an offer for this while it was under construction, well over a year ago,” comments David Aaronson, principal with Live Oak Capital Ltd. of Houston. Aaronson teamed with colleague and Live Oak senior vice president Hal Holliday to negotiate the transaction. The Houston-based seller broke ground on the complex in late 2006.

Though Aaronson kept quiet about the asset’s price, Travis Central Appraisal District has put a $35.5 million value on the luxury property at 1000 San Marcos St. near the central business district. Aaronson tells GlobeSt.com that the investor acquired Robertson Hill Apartments in an all-cash deal.

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