AUSTIN, TX-Kansas City-based Spectrum Business Ventures has acquired Summer Wind, a 156-unit apartment community at 833 Fairfield Drive in North Austin, for an unidentified sum. The real estate investment firm has plans to spend a considerable amount of money to improve the apartment complex.
The garden-style apartment complex was foreclosed by the seller. It comprises two-bedroom units. Almost 93% of the apartments were occupied at the time of closing. Atlanta-based ARA's Austin office brokered the deal on behalf of the seller. For the full story, go to Austin Business Journal .
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