One Real Estate Investment has appointed Allied Orion Group (AOG) to manage its Lotus Village Apartments in Austin, Texas. With an address at 300 Ferguson Drive, the 222-unit apartment community is situated about 8 miles north of downtown.
Lotus Village features one-, two- and three-bedroom apartment homes in five floorplans measuring approximately 700 to 1,239 square feet in size. Apartments offer dine-in kitchens, wood-style flooring, window coverings, 9-foot ceilings and optional garages. A clubhouse with billiards is among the property’s amenities.
“Allied Orion is proud to be the management partner for One REI across the state of Texas,” Loyal Proffitt, AOG president, told Multi-Housing News. “Our strong central Texas market presence combined with our understanding of One REI’s investment strategy makes Allied Orion a natural fit.”
Located in the North Lamar neighborhood of Northeast Austin, Lotus Village Apartments is situated near I-35 and W. Braker Lane. The location provides residents with a convenient location to reach job centers, hospitals, shopping, restaurants, nightlife and parks, as well as the University of Texas and Austin Community College.
The challenges of managing Lotus Village Apartments are expected to be no different than those of any other property AOG manages, Proffitt said.
“However, our Austin-area team and market presence, combined with our platform of services, will allow Allied Orion to meet and work through any challenges presented to our local team and organization overall,” he added.
AOG currently manages more than 1,725 units across eight One Real Estate Investment apartment communities in multiple Texas markets. Last month, mention was made of AOG’s management of a luxury Colorado community that had recently benefitted from a $61 million refinancing.