North Austin sale: Northland at Stonehollow apartmentsNorth Austin sale: Northland at Stonehollow apartmentshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=33822014-08-13T11:09:00Z2014-08-13T10:55:00Z

AUSTIN - Northland at Stonehollow, a 606-unit apartment community 11915 Stonehollow Dr., has been sold to a Chicago investment firm. The property is near the site where Charles Schwab Co. will build its new Austin facility.

The price was not disclosed, though the Travis Central Appraisal District pegs the value of the community — which covers about 19 acres — at a little more than $26.3 million.

Northland at Stonehollow was built in 1996 and includes several resort features including a theater and two pools. The property was 95 percent occupied at the time of sale.

The community offers one-, two- and three-bedroom units ranging from 602 sf to 1,352 sf.

Northland Investment Corp., which owns numerous other properties in the Austin area, sold the property to an entity formed by Heitman LLC.

For more on the Charles Schwab expansion, see previous story Charles Schwab to bring 823 jobs to Austin.

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2014/08/big-transaction-austin-apartments-sold-to-chicago.htmlRead more at {Source}

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