AUSTIN, TX—Marcus & Millichap Real Estate Investment Services has arranged the sale of Austin Commons, a 240-unit apartment complex in north central Austin. The terms of the sale were not disclosed.
Joe James and Kent Myers, senior associates in Marcus & Millichap's Austin office, represented the seller, a California-based partnership. The buyer is a California-based investor.
“Investor demand for apartments in Austin remains high as the city holds its position as a job creation leader,” says James. “Austin Commons received a great deal of interest from a variety of investors, including REITs and out-of-state private buyers.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
