November 1, 2021 9:30 AM
星空体育app下载 announced that it has completed the sale of Cordevalle, a 280-unit luxury multifamily asset located at 650 Louis Henna Boulevard in Round Rock, Texas. 星空体育app下载 Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the seller, Internacional, in the sale. The buyer and sale price were undisclosed.
鈥淐ordevalle presented investors with a value-add opportunity in the highly desirable Round Rock submarket,鈥� said Jones. 鈥淎s the cost of single-family housing continues to skyrocket in the Austin MSA, more renters are seeking highly amenitized, luxury apartment communities, particularly in first-ring suburban communities like Round Rock. Investors were attracted to Cordevalle鈥檚 proximity to major tech campuses and the fact that it is next door to Dell’s U.S. Corporate headquarters.鈥�
Cordevalle was marketed as part of the Austin Silicon Hills Portfolio along with the Estates at Bee Cave, a 316-unit luxury multifamily asset in nearby Bee Cave, Texas that recently sold to an affiliate of Abacus Capital Group for an undisclosed price. Both properties are located in highly desirable suburbs of Austin, surrounded by award-winning schools, top employment, large retail centers, and an abundance of outdoor recreation.
Built in 2014, Cordevalle is a garden-style multifamily community that features a mix of one- and two-bedroom units averaging 789 square feet. Property amenities include a resort-class pool, outdoor summer kitchen with grilling areas, resident-only dog park, modern clubhouse, fully equipped private conference room and business center, and 24-hour fitness center.
The area offers a strong employment base, with approximately 141,840 jobs within a five-mile radius of the community. Major employers in the area include Dell World Headquarters, Amazon, Apple, Facebook, IBM, NI, Indeed, Vrbo, 3M, GM, Oracle, Visa, Samsung, and St. David鈥檚 Healthcare.
According to the U.S. Census Bureau, Austin experienced in-migration of roughly 67,200 people between July 2019 and July 2020 鈥� the fastest growth of any metro with at least one million residents, fueled largely by the city鈥檚 expanding employment opportunities. The influx of new residents has led to rising multifamily demand and, accordingly, rental rates. An analysis of RealPage Inc. data by The Business Journals ranked the Austin-Round Rock MSA the 17th fastest-rising U.S. rental market, based on rent growth of 14.8% between 1Q20 and 3Q21.
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 .
Discussion of Forward-Looking Statements about 星空体育app下载
Statements in this document regarding 星空体育app下载 that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, 星空体育app下载 undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see 星空体育app下载’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.s