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Austin: Iron Rock Ranch saddles up $35 million buyAustin: Iron Rock Ranch saddles up $35 million buyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=19412015-01-20T07:40:00Z2015-01-20T00:00:00Z

AUSTIN - Iron Rock Ranch, a 300-unit apartment community located at 1215 Slaughter Ln. W., has been acquired by Philadelphia-based Independence Realty Trust.

Acquired for $35.3 million, or approximately $118,000 per unit, Iron Rock Ranch is located immediately west of I-35 along the Slaughter Ln. thoroughfare in Austin's Outer South Multifamily submarket.

Completed in 2001, the 316,644-sf community on a 22.67-acre site offers one-, two- and three-bedroom floor plans.

The community traded at roughly 96 percent occupancy and has an effective rent per occupied unit of $1,146 for the three months ending November 30, 2014.

tags: Austin apartment, Austin multifamily data

CoStar Group
Austin-Round Rock
Multifamily
http://www.costar.com/News/Article/Independence-Realty-Trust-Buys-Austins-Iron-Rock-Ranch-for-$353-Million/167633Read more at {Source}

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