AUSTIN--Presidium Group LLC, in partnership with St. Croix Capital Advisory Services Group (SCCASG), has acquired Hunterwood Apartments, a 160-unit Austin-area multifamily property.

“We are excited to grow our Austin portfolio with the purchase of Hunterwood,” Presidium co-chief executive officer Cross Moceri told GlobeSt.com. “Hunterwood is a continuation of our strategy to identify and acquire well-located assets with value-add potential.” 

The property was built in 1983 and has been well maintained. Presidium plans to implement value-add upgrades that will primarily consist of aesthetic and finish improvements. Interior renovations will include the addition of granite counter tops, tile backsplash, faux-wood flooring, new doors and cabinet hardware, new plumbing and electrical fixtures, new appliances, and a new paint scheme. Exterior upgrades will include modernizing the leasing center, the addition of a fitness center, pool-area upgrades, landscaping additions, and a new exterior paint scheme.

“The opportunity to enter the Austin multifamily market could not have been better timed, and we are thrilled to have a partner like Presidium,” said Bill Ballard, member of SCCASG LLC, in a release.

Hunterwood is located in South Austin, within a mile of South First Street and South Congress Avenue, two of the major arteries into downtown Austin. The property is a fifteen-minute drive from downtown Austin, Bergstrom airport, the Sunset Valley shopping area, Barton Creek Square Mall and Circuit of the Americas.

Hunterwood's amenities include a large swimming pool, laundry facilities and a leasing center.

Presidium has acquired four assets this year. Currently, the company owns and operates six properties in Austin and is in the process of developing several land parcels. The properties include Element, Elevation, Laurel Woods, Solaris and Vue apartments.