Jul 31, 2017
Duo sale: 270-Unit Elan and 290-unit Parmer
AUSTIN – Gamma Real Estate purchased an Austin apartment portfolio.The two Austin developments include:the 270-unit Elan Apartment Homes on Research Blvd. near Hunters Chase Dr., in the Anderson Mill-Jollyville neighborhood; and, the 290-unit...
AUSTIN – Gamma Real Estate purchased an Austin apartment portfolio.
The two Austin developments include:
- the 270-unit Elan Apartment Homes on Research Blvd. near Hunters Chase Dr., in the Anderson Mill-Jollyville neighborhood; and,
- the 290-unit Parmer Place development on Dessau Rd. near East Parmer Ln., in an area known as Tech Ridge.
The properties were acquired below replacement cost and have stable in-place cash flows.
Both are situated close to major employers. They were opened in 2007 and 2008, respectively.
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