The property is located near Willowbrook Mall in the FM1960-Champions area. LNR Verandah LP, a partnership of Lennar and RDSI, is the seller.
The Verandah is part of a 94-acre mixed-use development, sporting commercial, residential, retail, hospitality and healthcare facilities--supported by over 600,000 people.
G. Craig LaFollette, senior vice president and a part of the CB Richard Ellis multifamily team that handled the deal, says NBC is a private capital investor. According to LaFollette, NBC has refinanced several properties in Austin, using the equity to purchase the Verandah and three other apartment communities.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
