Sendera Acquires Luxury Apartment Complex in Austin
- Jun 27, 2012
Sendera Investment Group recently added a 250-unit apartment complex to its multifamily portfolio. The luxury property, called The Marquis Barton Creek, sits on 25 acres near the Barton Creek Resort and is tucked inside one of Austin’s most exclusive neighborhoods.
The property was built in 1998, and Sendera has renamed it Sendera Barton Creek, this according to the Austin Business Journal. The complex was bought from CWS Apartment Homes LLC, both the buyer and the seller being based in Austin.
The two-story asset consists of 30 three-bedroom, 74 two-bedroom and 146 one-bedroom units. Monthly rental rates average $1,300, as reported by RedNews.
According to a company news release, Sendera plans significant renovations for common area amenities and interior upgrades to meet market demand. The property will continue to be operated exclusively as an apartment community while improvements are made. Sendera’s renovation package includes environmentally friendly upgrades to which Austinites are accustomed.
In other interesting news, Omni Hotels & Resorts completed a multi-million-dollar renovation of five floors of private suites at the Omni Austin Hotel, located in the heart of downtown at 8th and San Jacinto. The luxury hotel spent more than $1 million per floor on the project—located on the top floors of the hotel, according to a news release by Omni Hotels & Resorts.
The project also increased the number of suites from 375 to 392, including 42 one-bedroom and three two-bedroom suites. Five of the one bedroom suites also have connecting doors to a standard guest room for a total of eight possible two-bedroom suites; three suites feature a full kitchen. The Omni Austin Hotel is known for having the largest suite inventory in Austin for a non-suite property.
Leo Daly served as designer for the project, according to the Austin Business Journal.
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