IPA Intermediates Sale of Austin-Area Community
- Sep 01, 2017
Institutional Property Advisors (IPA) arranged the sale of 288-unit Vantage at Georgetown on behalf of Housing Development. Executive Director Will Balthrope and Associate Jordan Featherston represented the seller and procured the buyer, Pensam Residential.
The 13-building community is located at 2000 Farm-to-Market 1460, Georgetown, Texas, north of Austin and comprises one- to three-bedroom units ranging in size from 605 to 1,150 square feet. Apartment interiors feature above-standard ceiling height, private balconies/patios, outdoor storage and washers/dryers. Common area amenities include a fitness center, business center, clubhouse, swimming pool, waterscape and a parking with 453 car spaces.
Austin’s expansion epicenter
The property was built in 2015 and occupies 13 acres near Interstate 35 and the State Highway 130 Tollway, within the 284-acre master-planned development Longhorn Junction. The mammoth project is being built around a $450 million data center owned by Citygroup Inc. In addition, H-E-B plans to build on a 21-acre site just north of the community, rivaling the 627,284-square-foot Wolf Ranch Shopping Center.
“Vantage at Georgetown offers top-of-the-market amenities and unit features in a high-growth market,” Will Balthrope said in prepared remarks. “The property’s location at the epicenter of expansion and growth in suburban Austin draws a continuous pool of potential renters.”
Featherston underlined Georgetown/North Austin’s expanding population and the area’s strong job market that make the purchase a good investment in the long run.
Images courtesy of Yardi Matrix