AUSTIN–A joint venture between Hamilton Zanze and NYL Investorshas sold The Retreat at Barton Creek toPaydar Properties. The 600-unit multifamilyproperty at 3816 South Lamar Blvd. changes hands for an undisclosedprice.
Hamilton Zanze purchased the property in 2007and then completed a $7 million capitalimprovement program, including renovating all of the units,modernizing the pool area and improving the landscaping.
"We owned Barton Creek for just over seven years and executed ona capital improvement program that significantly enhanced theproperty's appeal and operations,” says KurtHoutkooper, CIO of Hamilton Zanze. “This transactionspeaks to the strength of the Austin market and the high quality ofthe asset."
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