The 40-building luxury garden-style apartment community has beenpurchased from a joint venture of Greystar and FairfieldResidential. Greystar will continue to manage and lease theproperty. The project, seven miles from Austin's Central BusinessDistrict, has been acquired on behalf of a public pension fundclient, according to a Lend Lease official.
Earlier this year, Lend Lease took over the recently completedLas Cimas Phase I office building and currently is developing thepark's second phase, located along Loop 360 near Bee Caves Rd., ina joint venture with the Lincoln Property Co.
Atlanta-based Lend Lease is one of the largest real estatemanagers in the world with some $32 billion in real estate andcommercial mortgages under management for more than 500institutional and private clients.
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