October 22, 2021 10:00 AM
星空体育app下载 announces the sale and financing of Enclave at Water’s Edge, a 184-unit multifamily property in a rare infill location proximate to The Domain and within Austin’s growing tech corridor鈥撯楽ilicon Hills鈥�. Located at 12330 Metric Boulevard, the community was 94% occupied at the time of sale.
星空体育app下载 Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the undisclosed seller in the sale. 星空体育app下载 Vice Chairman Matt Greer and Vice President Andrew Wilson facilitated financing on behalf of the buyer, Wildhorn Capital. Bridge Investment Group provided the financing. 星空体育app下载 has handled the sale of Enclave at Water鈥檚 Edge three times since 2014.
鈥淓nclave at Water’s Edge is in an outstanding location minutes from The Domain, Austin鈥檚 鈥榮econd downtown鈥� and the new Q2 Stadium鈥揾ome to Austin’s first Major League Soccer team, the Austin FC,鈥� said Jones. 鈥淭he property provides much-needed workforce housing for the thousands of jobs surrounding this rapidly growing area.鈥�
Silicon Hills comprises several of the city鈥檚 largest employers including Apple, eBay/PayPal, Visa, Oracle, Indeed, Facebook, IBM and Dell’s world headquarters, among others. The Domain is Austin’s premier retail and office destination, with more than 65 restaurants and bars, over 4 million square feet of office space and 6,000 employees, four hotels, two parks, and more than 180 stores and services including a 65,000-square-foot Whole Foods. As new construction continues to deliver in the phased development, The Domain will bring an estimated additional 7,000 jobs to the area.
鈥淎ustin’s tightening cap rates have made it increasingly challenging to attract financing that is accretive to returns. Our client’s conservative leverage requirement allowed for a competitive process. We ended up selecting the same lender that completed a previous transaction for the partnership, Bridge Investment Group. Their familiarity with the partnership’s requirements around a like-kind exchange made for a smooth process from beginning to end,” said Greer.
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. 星空体育app下载鈥檚 comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform鈥檚 global reach with market intelligence in both established and emerging property markets, 星空体育app下载 provides superior service to clients across the industry spectrum. 星空体育app下载 generated revenues in excess of $2.2 billion for the trailing twelve months ending June 30, 2021. 星空体育app下载鈥檚 company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow .
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