Saturday, September 26, 2015

Cortland Partners Enters Austin, TX with Acquisition of 308-unit City View Apartments

Steven DeFrancis
AUSTIN, TX — Cortland Partners has entered the Austin market with the acquisition of City View Apartments, a 308-unit apartment near the heart of Austin’s CBD.

With Austin’s current and projected rapid employment growth, Atlanta-based Cortland Partners has been seeking the right opportunity to expand its Texas portfolio in this market.

 The company currently has regional offices in both Dallas and Houston and owns 10 apartment communities in the Dallas-Fort Worth area, six in Houston, and three in San Antonio.

According to the Austin Chamber of Commerce, employers added 32,500 net new jobs from June 2014 to June 2015, representing a growth rate of 3.6 percent over 12 months. 

This growth in turn bodes well for the city’s rental housing market. “The Austin market has seen significant demand for new multifamily product during the past five years,” said Steven DeFrancis, CEO of Cortland Partners.

“The city continues to attract new residents, jobs and economic growth, resulting in increased demand and continued low vacancy. Cortland Partners has a unique capability to revitalize current multifamily offerings in the Austin market to better meet this demand.”
 For a complete copy of the company’s news release, please contact:

Sarah DeFrancis
Cortland Partners

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