AUSTIN – Boston-based General Investment & Development Cos. (GID) has acquired the 340-unit Hanover South Lamar apartment complex.
The seller, The Hanover Co., completed construction in late 2014 on the mid-rise community at 809 S. Lamar Blvd. in the Zilker multifamily submarket.
The property was 95 percent occupied at the time of sale. Hanover South Lamar has one- and two-bedroom floor plans.
ARA Newmark handled the transaction on behalf of Hanover.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.