Allied Orion Chosen to Manage 800 Texas Units
The company will oversee two Class A communities owned by GenCap Partners Inc. in Austin and Leander, boosting its portfolio of more than 23,000 apartment units nationwide.
Allied Orion Group has been tapped to manage two Class A communities owned by GenCap Partners Inc. in the Austin, Texas, metropolitan area. Totaling 800 units, the properties are Park at Estancia, located at 820 Camino Vaquero Parkway in Austin, and Park at Crystal Falls, located at 7740 183A Toll Road in Leander, Texas.
Park at Estancia is a newly completed luxury community within the master-planned Estancia Hill Country development. The 320-unit property is currently in lease-up and poised to welcome its first residents. Units range in size from one- to three-bedrooms, with roughly 656 to 1,424 square feet of living space. Apartment features include nine-floor ceilings and private yards in select units, and the community offers amenities from a fitness center and swimming pool to attached private garages and electric vehicle charging stations.
Park at Crystal Falls has been developed in two phases, with Phase I completed in 2017 and Phase II completed this year. The 480-unit community is more than 90 percent occupied, according to Yardi Matrix data. Located in a northern suburb of Austin, the property features one-, two- and three-bedroom floor plans, with an average size ranging from 576 to 1,446 square feet. Apartments have in-unit washers and dryers and walk-in closets. Among the community amenities are a modern clubhouse, pool and lazy river, and outdoor kitchen and picnic area.
Growing in Texas
Texas-based Allied Orion Group has a portfolio of more than 23,000 apartment units under management across the country and has acquired or developed more than 15,000 multifamily units with a total value of around $1.3 billion.
The company is currently developing The Retreat at Creekside in New Braunfels, Texas, a 281-unit community within the Creekside Town Center master-planned development between Austin and San Antonio. The property is scheduled for completion in December 2020.
Allied Orion Group was selected to manage Mountain View Heights, a 365-unit affordable housing community in Hot Springs, Ark., in January of last year.