|$45M takes Canyon Resort at Great Hills to a sale||$45M takes Canyon Resort at Great Hills to a sale||https://www.recenter.tamu.edu/news/newstalk-texas/?Item=15522||2017-01-06T06:00:00Z||2017-01-06T23:00:00Z|
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.
|Online news||Austin-Round Rock||Multifamily|| https://www.crenews.com/general_news/general/steadfast-iii-pays-$445mln-for-austin-texas-apartments.html|
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