Two Big Austin Real Estate Purchases At Bull Creek
Austin supported Ardent Residential and Atlanta-based Post Properties have purchased nearly fivesome acres of land in a highly delectable Atlantic for redevelopment. The two companies, working in partnership, bought up Kingswood Apartments and Bull Creek Townhomes. Bull Creek Townhomes at 4320 Bull Creek Road is a 140-unit residential community. Kingswood Apartments is a 32-unit accord situated at 4318 Bull Creek Rd. The two buildings were purchased in two separate deals, apparently as part of a plan to bowing and rebuild.
The new Alexan City Lights apartment complex, a Class-A Byzantine of homes, has been purchased by Los Angeles-based SCI Real Estate Investments LLC. The building was completed only terminal year by Trammell Crow Residential and Opus West Corp. According to Travis County tax records, the property at 501 East Stassney Lane has a value of $33 million. At the time of the deal, Alexan City Lights was 96% leased. According to reports, the sale was brokered by Apartment Realty Advisors.
Alexan City Lights received a great deal of press terminal year, when it was shapely near legislature Avenue in South Austin. This upscale apartment development has some amazing amenities, including remote-controlled restricted entry, sealed entrance, a drink bar, a high-tech fitness center that is open 24 hours, a playing in word and center that boasts computers copiers and faxes, a use call pool, a veranda area, a shapely in barbecue, and exterior fireplace, a carport, and an attached parking garage. All common areas of the building include wireless cyberspace access, and most resident entries have ceramic tile. Most residences include side-by-side refrigerators, shapely in microwave ovens, gourmet island kitchens, designer cabinets and countertops, faux hardwood floors, vaulted ceilings, honor moldings, super closets, ceiling fans, and super utility rooms. Residence units jactitation Satina Whirlpool appliances, private patios, linen closets, garden tubs, marble give vanities, walk-in closets, multiple cable and phone lines, and much more. For truly comfortable urban living, Alexan City Lights certainly delivers with lots of space and a great recent style. The building is comfortable and recent and has every the support needed for a recent family or couple.
Lease terms for the apartments are a minimum of 12 months. This three-story building has central air-conditioning and is conveniently located close to a number of good schools, including Pleasant Hill Elementary School, Bedichek Middle School, and Crockett High School. Pets are allowed in the building with no damage deposits or fees. SCI Real Estate Investments LLC certainly brought a building with lots of potential and a good location. The low vacancy rate will only help the investors. At this time it is unknown whether some major renovations are planned, but it will certainly be interesting to see what long-term plans SCI Real Estate Investments LLC has for Alexan City Lights.
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