City Point’s 396-unit Austin complex sold

AUSTIN – The 396-unit City Point apartment community at 1071 Clayton Lane has been sold to a Canadian firm.

Located near I-35 and US Hwy. 290, City Point offers one- and two-bedroom units ranging in size from 504 sf to 920 sf and in price from $699 to $999, according to rentlingo.com.

Firmus Equity Partners of Edmonton, Alberta, Canada, secured a $19.5 million Fannie Mae fixed rate loan for the acquisition of City Point.

City Point was built in 1983 and about 20 percent of the units were recently remodeled. Firmus plans to continue the upgrades.