Austin: 279-unit The Kenzie picks up $42MAustin: 279-unit The Kenzie picks up $42Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=8792015-05-29T12:49:00Z2015-05-29T10:00:00Z

AUSTIN - The Kenzie at The Domain, a 279-unit, six-story multifamily asset located in North Austin has sold for $42.3 million, according to Yardi Matrix data.

Austin’s average per unit price in 2015 ($107,409) is still climbing over the $104,801 average achieved in 2014. You can also expect rents to rise about 6 percent this calendar according to Yardi Matrix.

The asset is located at 3201 Esperanza Crossing in The Domain, a master-planned community with more than 1 million sf of retail, dining and entertainment, and more than 2.5 million sf of office space.

Heitman acquired the property from Street Lights Residential. 

So it is no wonder Heitman was interested in this trophy property, which IPA said is surrounded by more than 90,000 jobs within a three-mile radius.

Austin Market Research, Austin NewsTalk multifamily

Multi-Housing News
Austin-Round Rock
http://www.multihousingnews.com/headlinenews/todays-deals-why-heitman-thinks-austin-is-awesome/1004120581.htmlRead more at {Source}

 Search NewsTalk Texas