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Elco Landmark Partners in Acquisition of Four Multifamily Properties

Elco Landmark Partners in Acquisition of Four Multifamily Properties

Four garden-style multifamily properties located in the Austin submarket of Round Rock and San Antonio have been acquired by a newly formed partnership between Elco Landmark Apartment Trust Holdings LLC, DeBartolo Development LLC, and LEM Capital. The combined price is of approximately $44 million.…

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$500M Mixed-Use Trio of Towers Proposed for Downtown Austin

$500M Mixed-Use Trio of Towers Proposed for Downtown Austin

“Every project begins with a vision, and this is a grand vision on a great site,” said local real estate consultant Charles Heimsath about the proposed plan to build a $500M mixed-use project downtown Austin. If the plan receives approval from the city, the Austin skyline will change dramatically through…

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180,000-Sq.-Ft. Shopping Center Purchased by Misuma Holdings

180,000-Sq.-Ft. Shopping Center Purchased by Misuma Holdings

Austin’s 180,000-square-foot shopping center, Lincoln Village, has just been purchased by veteran developers Misuma Holdings for an undisclosed sum. The new owner has not made public its plans regarding the repositioning of the acquisition, but the involved parties can await consistent changes throughout the year. Among the current tenants are…

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Eleven Community to Open this Summer, Pre-leasing Underway

Eleven Community to Open this Summer, Pre-leasing Underway

Located in one of Forbes’ “hippest Neighborhoods” in the heart of East Austin, the Eleven apartment community has begun pre-leasing on April 1, 2013 in the Haehnel Building on East 11th Street. It will be ready to receive residents this summer.…

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Karlin Real Estate Acquires 186,000-Sq.-Ft. Plaza 35

Karlin Real Estate Acquires 186,000-Sq.-Ft. Plaza 35

Karlin Real Estate, one of the most active real estate investors in Austin, has closed another acquisition recently. The Los Angeles-based investor purchased Plaza 35, a 186,000-square- foot property at 12234 N. I-35.…

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AMD Sells and Leases Back Lone Star Campus, Generates $164M in Cash

AMD Sells and Leases Back Lone Star Campus, Generates $164M in Cash

Advanced Micro Devices Inc. is close to signing a sell and lease-back deal which is expected to generate approximately $164 million in cash for the technology company. AMD recently announced in a news release that an affiliate entity of real estate investment company Spear Street Capital agreed to buy the…

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Foundation Communities Plans 109-unit Affordable Project

Foundation Communities Plans 109-unit Affordable Project

Foundation Communities plans to build a residential project with affordable rentals at 2800 S. Lamar Blvd., a booming area with upscale multifamily projects. The local nonprofit could build the 109-unit apartment project on a site that currently houses a Goodwill retail store.…

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327-room Boutique Hotel to Break Ground This Summer in Downtown Austin

327-room Boutique Hotel to Break Ground This Summer in Downtown Austin

JMI Realty is finally optimistic about its 327-room hotel project planned for downtown Austin. After five years of being stalled due to the economic recession, the hospitality project is finally on track, expected to break ground by June 2013.…

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National Instruments Considers Major Investment in Austin

National Instruments Considers Major Investment in Austin

National Instruments Corp. in considering adding 1,000 jobs to its Austin headquarters over the next 10 years and an $80 million investment to the Texas capital. The engineering tool maker plans to expand its research and development by building a new $47 million facility and investing $33 million in business…

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JV to Deliver New Luxury Apartment Tower in Downtown Austin

JV to Deliver New Luxury Apartment Tower in Downtown Austin

StreetLights Residential and Hunt Companies, Inc. have formed a partnership that will build a 19-story glass and brick tower at 214 Barton Springs Rd., just south of the Hyatt Regency Austin. The project is valued at $68 million. Designed by Austin-based Rhode Partners, the luxury multi-family project will feature 300…

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Last Lots in Twin Creeks Development Sold; Builders to Break Ground on New Homes

Last Lots in Twin Creeks Development Sold; Builders to Break Ground on New Homes

Standard Pacific Homes and Ryland Homes have purchased the remaining 201 lots in the Twin Creeks master-planned community located in the Cedar Park area. Together the builders will develop The Reserve at Twin Creeks, the last section that remains undeveloped of the Twin Creeks subdivision, which currently counts for 800…

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McNeil Ranch Community Sold for $21M

McNeil Ranch Community Sold for $21M

Preferred Apartment Communities, Inc. grew its multifamily portfolio with 928 new units located in Atlanta, GA, Austin, TX and Raleigh, NC. The Maryland-based real estate investment trust has recently closed on the acquisition of three multifamily properties for a total of $90.8 million.…

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