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“Pre-Stabilized” Austin MF Trades

AUSTIN, TX—HFF has closed the sale of Silverado Crossing, a 74% occupied, newly constructed multifamily community here.

By Sule Aygoren | Updated on March 05, 2014

AUSTIN, TX—HFF has closed the sale of Silverado Crossing, a newly constructed multifamily community located on Interstate 35 in the Austin suburb of Buda. HFF marketed the property on behalf of JCI Residential, the seller. The buyer was the Meagher Family Trust. The purchase price was not disclosed, but the buyer bought the asset with the expectation of fully stabilizing it, free and clear of debt.

Completed in 2013, Silverado Crossing features 300 one-, two- and three-bedroom units averaging 852 square feet each.  According to HFF, the community differentiates itself through an extensive resident event calendar, featuring weekly events such as “weird wine Wednesdays”, yoga classes, and movie nights; and monthly events such as community cooking classes and complimentary breakfast & coffee.  Residents of the property may also access the “Live in Buda” discount card, which provides discounts to local restaurants, shopping and services throughout Buda. 

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