Asset Caters to Apple Plans for Doubling Operations

Broadstone 8 One Hundred is a class-A community on 17 acres.

AUSTIN, TX—With a focus on luxury assets, San Francisco-based Jackson Square Properties returns to the Austin market for its first class-A buy, this time near the Apple campus. The company formerly held several 80s-era properties in the area. The asset is Broadstone 8 One Hundred , a 376-unit, a luxury multifamily community in Northwest Austin. The property caters to Apple ‘s planned expansion of its 39-acre corporate campus as well as hubs for eBay/PayPal, Google, Visa and 3M . Apple currently employs 4,000 people with plans to add more than 1 million square feet and 3,600 workers for the company’s new Americas Operations Center. ARA Newmark executive managing director Pat Jones represented the seller, Alliance Residential . Founded in 2000, Alliance Residential specializes in acquiring, owning, developing and managing multifamily investment properties nationwide. Broadstone 8 One Hundred sold for an undisclosed price. “The property also benefits from proximity to a diverse array of restaurants, shopping and popular retail and entertainment destinations such as The Domain, The Arboretum, Rock Rose and the growing Lakeline area,” said Jones. “The strong rents and quick lease up prove that the property has already established itself as the premier garden-style apartment community in all of Austin.” Constructed in 2015, Broadstone 8 One Hundred is a class-A community on 17 acres. The property offers amenities such as a pool with lounge seating, outdoor kitchen with gas grills, a bocce ball court and a hammock green. The clubhouse includes viewing/entertainment spaces, social lounge with beverage bar and an athletic center rivaling a university training facility. Interiors feature 10-foot ceilings, spa-like bathrooms and custom hardwood floors. Jones tells GlobeSt.com: “It’s no surprise that Broadstone 8 One Hundred has seen aggressive lease-ups. The luxury community’s proximity to Apple’s anticipated expansion as well as some of Austin’s most popular entertainment and retail destinations make the property desirable on multiple levels.”