(To read more on the multifamily market, click here.)
AUSTIN-Trammell Crow Residential has sold the 308-unit AlexanCityview to a Birmingham, AL buyer. The six-year-old complex,listed for $27.5 million, traded at a sub-6% cap rate.
Virtu Investments' new prize is a class A complex on 16 acres at4900 E. Oltorf St. "This buyer verbally told us they were lookinghard to purchase an asset in Austin. Everything I've been bringingto market I've been showing to them," says Patton Jones, a salesdirector in Austin and San Antonio for Apartment Realty Advisors."They needed to find something to fit their box. They liked thisproduct."
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