AUSTIN – Toronto, Canada-based Starlight Investments Ltd. has acquired two Class A apartment communities, Cielo and Madrone, totaling 554 units.
The adjacent properties are located at 3499-3501 RM 620 S. Completed in 2014, Cielo has 28 three-story buildings situated on 38 acres that house 326 one-, two-, and three-bedroom units.
The Madrone is situated on 40 acres was completed in 2015. The eight-building property has 228 one-, two- and three-bedroom units.
HFF arranged $65 million in acquisition financing on behalf of the buyer.
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