$45M takes Canyon Resort at Great Hills to a sale$45M takes Canyon Resort at Great Hills to a salehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=155222017-01-06T06:00:00Z2017-01-06T23:00:00Z

​​AUSTIN – Canyon Resort at Great Hills, a 256-unit apartment property at 8701 Bluffstone Cove, has been purchased.

Steadfast Apartment REIT III Inc. paid $44.5 million, or nearly $173,830 per unit for the 20-year-old property.​

At the time of sale, the property was 94.5 percent occupied with in-place rents averaging $1,335 per month. ​

Built in 1997, the property features 12 three-story buildings with a total of 256 apartments in a mix of one-, two- and three-bedroom layouts, averaging 983 sf. 

Connor Group, the seller, acquired it just more than two years ago.​

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