By Anca Gagiuc, Associate Editor
Terrain Apartments
South Austin multi-family properties continue to attract investors. One of the latest examples: Terrain, a 101-unit apartment community four miles southwest of downtown Austin.
The asset was acquired by a private buyer from Northern California. The seller, FBZ Williamson Creek, was represented by an HFF team headed by Director Matt Pohl, Senior Managing Director Sean Sorrell and senior real estate analyst Ryan McBride. Terms were undisclosed.
Terrain is located at 5112 S 1st St. and offers access to St. Edward’s University and South Austin’s recreational amenities via Interstate 35, Highway 71 and Mopac Expressway (Loop 1). The property, which was 95 percent leased at the time of the sale, was built in the 1980s and renovated most recently in 2013.
Residents can choose from one- and two-bedroom units ranging in size from 504 to 850 square feet. Amenities include swimming pool, fitness center, patios balconies, a barbecue and picnic area and on-site management.
Image courtesy of Terrain Apartments.