JPI Closes Sale of 362-Unit Austin Property

The class A Sur 512 includes amenities such as picnic and grilling areas, Bluetooth-enabled locks and 616 parking spaces.
The Sur 512 in Austin, Texas
The Sur 512 in Austin, Texas

JPI has traded Sur 512, a 362-unit luxury community in Austin, Texas. Developed by JPI in 2016, the Class A multifamily property sits on nine acres in a historic part of the town.

Located at 5010 South Congress Ave., the community provides easy access to Interstate 35 and popular boutiques, eateries, galleries and music venues. According to Yardi Matrix data, Sur 512 includes 208 one-, 136 two- and eight three-bedroom units. Apartments range in size from 601 to 1,260 square feet. Each unit features island-style kitchens, glass tile backsplashes and granite countertops. Amenities of the two-building community include:

  • private balconies in select units
  • picnic and grilling areas
  • fitness center
  • Bluetooth-enabled locks
  • two swimming pools
  • business center
  • clubhouse
  • 616 parking spaces

“The attention to detail displayed throughout the design and the higher level of service provided, make this community ideal for Austin residents,” said Matt Brendel, senior vice president & development partner at JPI, in prepared remarks.

Most recently, JPI secured financing for Jefferson Promenade, its latest apartment community development in Irving, Texas.

Image courtesy of JPI