AUSTIN, TX – Full-service multifamily real estate company the Michaels Organization has sold its newly-constructed multifamily community in Austin, TX to New York-based real estate firm Sterling Equities.
Developed by the Michaels Organization for $59.2 million, the property, Zoey Apartments, recently began leasing in early August, and at the time of the sale, the asset was 82% occupied.
The 306-unit luxury property offers 38 affordable units and community amenities including a fitness area, rooftop lounge, co-working spaces, recreation lounges, a pool, courtyards, a bike storage facility, a dog wash area and on-site parking. The units feature plank flooring and quartz countertops, and range from studios to two-bedroom apartments.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
