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Recent Apartment Sales in Austin

Date Added: September 13, 2012 07:26:21 AM
Author: Patrick OConnor
Category: Business & Economy: Real Estate & Property

In the month of July 2012, 9 multifamily properties were sold in the Austin market. Compared to July 2011, multi family sales have increased by 28.57%. In terms of gross square feet, sales have increased by three-times when compared to July 2011. Some of the recent multifamily sales recorded in the real estate market of Houston area include: In July 2012, Fairfield Scofield LLC, an entity of Fairfield Residential Company LLC, has purchased Scofield Park at Austin, a 487-unit, Class A community, located at 2600 Scofield Ridge Parkway in the North submarket, from AMLI/BPMT Scofield Partnership, an entity of AMLI Residential. The 13-year-old property, formerly named AMLI at Scofield Ridge, is 94% occupied with average rents at $1.07 per square foot. Property amenities include Business Center, Fitness center, High-Speed Internet, Attached Garages, Social Activities and Swimming pools. Unit amenities include outside storage; frost free, pantry, 9ft ceiling, microwave, and dishwasher. Pets are allowed at the community, with a breed limit of two and a deposit fee range from $350 to $600. According to the County Appraisal District the total assessed value of the community is $36 million. Parking space is not available for this property. Another significant sale for the month of July 2012 is sale of The Cottages. The Cottages Apartments LLC, an entity of MIG Real Estate, has purchased The Cottages, a 330-unit, Class A community located at 8515 South Interstate Highway-35 in the Southeast submarket. The Cottages Apartments LLC, an entity of MIG Real Estate, has purchased from Criterion Onion Creek Apartments LP. The four-year-old property is 91% occupied. According to the appraisal district records, the total assessed value is $11.88 million. The community features one-, two- and three-bedroom units, ranging in size from 500-1,397 square feet. The average rent ranges from $1.51-1.13 per square foot. Property amenities include clubhouse, detached garages, conference Room, fitness center and swimming pools. Unit amenities include Granite Countertops, Microwave, Patio/Balcony and Ceiling Fans. Pets are allowed at the community, with a breed limit of two with breed restriction. The deposit fee for the pet is range from $250 to $350. Parking space is not available for this property. Lenders, appraisers, developers, investors, tenants and real estate brokers are just some of the real estate professionals who regularly need real estate market data. They seek timely raw data and summary statistics regarding the market and submarkets. O’Connor & Associates has been providing this information since 1988. The Market Research and Consulting division of O’Connor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses – multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Austin Apartment Lease Houston office space leasing, Dallas retail space leasing, Dallas industrial leasing, Austin Commercial Office Space For Rent , Houston industrial space leasing, Houston apartments, Fort Worth apartments, Austin apartments, and San Antonio apartments. http://www.oconnordata.com/Austin_Apartment_Lease.cfm http://www.oconnordata.com/Austin_Commercial_Property.cfm
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