December 20, 2021 9:00 AM
星空体育app下载 announces the sale of Citizen House Decker鈥攁 324-unit luxury multifamily property in East Austin, Texas which delivered in 2021. 星空体育app下载 Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the seller, Austin-headquartered commercial real estate company Endeavor Real Estate Group, in the sale to buyer, Toronto-based real estate advisory company Prism Multifamily Group. The purchase of the property鈥攚hich has been rebranded as Spectra Parks鈥攔epresents Prism鈥檚 first multifamily acquisition in the Austin market.
鈥淚nvestors were attracted to the property鈥檚 East Austin location proximate to downtown; the nightlife of East 4th, 5th and 6th Districts, as well as the new Tesla facility under construction roughly four miles away,鈥� said Jones. 鈥淭he nearly 3.5 million square feet of nearby office space recently delivered, under construction or proposed further enhanced the investment opportunity, as the property sits in the middle of a developing live/work/play environment.鈥�
The property鈥檚 community amenities include a resort-style pool with grills and dining area, a resident lounge with kitchen, co-working spaces and an arcade, as well as a fully equipped fitness and community center. Interior features include stainless steel appliances, granite countertops and oversized walk-in closets in each unit.
Located at 5301 Decker Lane, the property is within minutes of downtown Austin and major employers including Tesla, Amazon, Oracle and Dell Children鈥檚 Medical Center. The property is also proximate to the 700-acre Mueller Mixed-Use District which offers ample retail, dining and entertainment and newly developed Class A office space. The community is surrounded by parks, walking trails and picnic areas.
According to 星空体育app下载 Research鈥檚 3Q21 U.S. Multifamily Capital Markets report, markets throughout the Southwest have been some of the strongest performers in overall market returns over the past 12 months. Austin鈥檚 annualized total market return was 16.7%, more than 3 percentage points above the U.S. average for all markets.
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 $2.5 billion for the trailing twelve months ending September 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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