Local Investor Acquires Iconic Luxury Multifamily Asset in Downtown Austin
- May 23, 2016
Austin, Texas—JLL’s Capital Markets, on behalf of StreetLights Residential and Hunt Properties, announced closing the sale of the ultra-luxury apartment building The Catherine in Austin, Texas. Catherine Tower LLC, an affiliate of Austin-based Christopher Investment Co., acquired the 300-unit property located in the SoCo submarket.
The JLL team was led by managing directors Jeff Price and Scott LaMontagne. The financial details of the transaction were not disclosed.
“More often we are seeing very high-end amenities and skyline views as the main selling points for investors,” said Price in a prepared statement. “The Catherine is the only High Rise south of Town Lake—a true game-changer in Austin—and provides the highest quality amenities seen in multifamily properties across the country.”
“With the tech and medical industry continuing to draw an affluent population into Austin’s Central Business District (CBD), demand for luxury multifamily units continues to grow and The Catherine stands as an iconic asset,” added LaMontagne.
The 19-story high-rise is located on the south side of Lady Bird Lake at 214 Barton Springs Road with direct access to the lake’s hike and bike trails and kayaking, just minutes from Zilker Park and Barton Springs Pool, and with immediate access to unique shopping and dining on South Congress and Austin’s 2nd Street District.
The Catherine offers studios, one- to three-bedroom units as well as penthouses featuring 10-foot ceilings with 8-foot doors, keyless entry and USB charging ports and Sonos Wireless Hi-Fi system with built-in speakers. Other amenities include an infinity edge pool complete with a fire pit, outdoor lounge spaces and grilling stations, fitness center, rooftop private sky lounge with resident bar and private dining room, and a hounds grounds area with pet washing station.
Unit amenities feature private terraces, washer and dryers, spacious walk-in closets, urban mud rooms for extra storage, dine-in gourmet islands with custom wood cabinetry and under cabinet lighting, and hardwood floors in kitchen and living areas.
Images courtesy of The Catherine