AUSTIN - One of the newest urban-styled apartment communities in Austin has sold to an undisclosed Canadian buyer. Tree, located at 3715 S. First St., opened in September and was 94 percent leased at the time of sale.
Tree offers one- and two-bedroom units ranging from 564 sf to 1,309 sf.
One of the property’s main assets is its location, just three miles from Austin’s CBD.
Travis Central Appraisal District values the Tree property at $44 million. A joint venture of Charleston, South Carolina-based Greystar and The Carlyle Group sold the property.
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