Austin: 112-unit Lantana Trace soldAustin: 112-unit Lantana Trace soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=5392015-06-30T07:43:00Z2015-06-30T00:00:00Z

AUSTIN - The 112-unit Lantana Trace, located at 1830 Rundberg Lane West and 9315 Northgate Blvd., has been sold.

The north Austin property was 97 percent occupied at the time of the sale. The buyer was ACA Lantana Trace LLC of Austin.

Built in 1972 on two separate parcels of land totaling 2.98 acres, the property features 19 studio units, 87 one-bedroom units, and six two-bedroom units.

Director Forrest Bass of the Berkadia Austin office negotiated the transaction.

"The North submarket in Austin continues to see a lot of transaction activity and strong economic fundamental,” Bass said. “We have closed four other recent multifamily transactions in the area, and just went to market with another large multifamily asset.”

Vacancy in the Austin metro lowered 20 basis points to 4.8 percent in first quarter 2015. At $1,101 per month in March, average asking rent was up 1.3 percent since December.

Read more at Globe St.

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