AUSTIN–A joint venture between Hamilton Zanze and NYL Investors has sold The Retreat at Barton Creek to Paydar Properties. The 600-unit multifamily property at 3816 South Lamar Blvd. changes hands for an undisclosed price.
Hamilton Zanze purchased the property in 2007 and then completed a $7 million capital improvement program, including renovating all of the units, modernizing the pool area and improving the landscaping.
"We owned Barton Creek for just over seven years and executed on a capital improvement program that significantly enhanced the property's appeal and operations,” says Kurt Houtkooper, CIO of Hamilton Zanze. “This transaction speaks to the strength of the Austin market and the high quality of the asset."
Property amenities include two swimming pools, a clubhouse, dog park and fitness center with a personal trainer. It also has direct access to an 800-acre nature preserve. The property was built in 1984 and is 95% occupied.
CBRE's Charles Cirar represented the seller.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
