250-Unit Marquis at Barton Creek Apartments Now Part of CA-Based Investors' Portfolio

AUSTIN-The Marquis at Barton Creek Apartments, built in 1998, is now the property of Newport Beach, CA-based CWS Capital Partners LLC, which owns four other luxury complexes in the Austin area.

“This purchase represents a continuation of CWS’ strategy to grow our portfolio of luxury apartment homes in high-growth areas,” says Gary Carmell, CWS Capital’s chief investment officer and one of four founders of the 31-year-old real estate corporation.

A CWS Capital Partners spokeswoman told GlobeSt.com that the 269,133-sf complex has been purchased from Barton Creek Associates. It is one of 21 in the company’s luxury multifamily portfolio. CWS owns eight complexes in Dallas, three in San Antonio, four in Charlotte, NC, one each in Durham, NC, and Sacramento and two in Denver. The Austin holdings are Edge Creek, the Marquis at Ladera Vista, the Marquis at Walker’s Bluff and the Marquis at Caprock Canyon.

The Barton Creek property is 98% occupied, says Melanie Griffith, who is based at CWS’ regional office in Austin. The 250-unit complex, the former Estancia Apartments, is situated on 25 fully developed acres near the intersection of Barton Creek Rd. and South Loop 360. Units range in size from 775 sf to 1,630 sf and feature upscale amenities such as crown moldings, French doors, gourmet kitchens and fireplaces.

CWS Capital Partners’ other principals are Steve Sherwood, CEO; Bill Williams, director; and Sean Breslin, COO. CWS Partners, an investment management group utilizing limited partnerships for acquisitions, is structured with a property management entity.