AUSTIN - Strong job and population growth keep Austin in the top five multifamily investment markets without any sign of a slowdown.
As a case in point, U.S. Real Estate Investment Fund LLC (US REIF), a subsidiary of Boston-based Intercontinental Real Estate, acquired a year-old, 179-unit community in central Austin.
Completed last year and located at 5453 Burnet Rd., Burnet Flats offers one- and two-bedroom apartments that range from 600 sf to 1,141 sf.
Terms were not disclosed, but the buyer obtained a $20.4 million, ten-year fixed-rate Freddie Mac loan originated by Capital One. The property also includes 2,853 sf of retail space.
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