AUSTIN - The McNeil Ranch apartment community at 6280 McNeil Dr. was acquired by Preferred Apartment Communities Inc. for $21 million in Northwest Austin. McNeil Ranch consists of 192 units. Built in 1999, the property was 97.4 percent occupied at the time of closing.
The real estate investment trust bought the property as part of a three-property portfolio acquisition. The other apartment communities were in Atlanta and Raleigh, N.C.
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