AUSTIN—On behalf of Los Angeles-based InterGroupCorp., Berkadia has soldCapitol Village Apartments. The buyer was a SanFrancisco-based private investor.
Senior vice president George Deuillet III andvice president Forrest Bass of the Austin officenegotiated the sale.
“Capitol Village was a unique investment offering that presentedinvestors with an opportunity to acquire a property that wasalready performing well within its submarket, but was also in needof moderate exterior and interior renovations which inevitablyshould drive value further,” Bass told GlobeSt.com. “The submarkethas experienced substantial rent growth in the most recent yearsand continues to benefit from its close proximity to theMueller redevelopment and conversion ofHighland Mall to the Austin CommunityCollege Highland campus.”
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