Saturday, April 9, 2016

American Realty Advisors Sells Two Multifamily Properties in Austin, TX

ALARA Canyon Creek Apartments, Austin, TX
Austin, TX – American Realty Advisors, an institutional real estate investment manager with over $7.3 billion in assets under management, has sold two Class A multifamily apartment communities in Austin, TX.

Martha Shelley
The two properties, known as ALARA Cantebrea Crossing and ALARA Canyon Creek, featured a total of 732 units, and were packaged as a single portfolio. Both properties are low density residential communities located along FM 620 North in Austin’s Northwest submarket.

 “Investor demand for high-quality multifamily product in Austin remains very strong,” says Martha Shelley, a Senior Portfolio Manager at American Realty Advisors. 

She noted that the assets’ proximity to Lake Travis, good schools, and strong employment hubs in the technology, medical, and education fields helped drive investor interest for the two properties.

American had acquired ALARA Cantebrea Crossing in 2006 and ALARA Canyon Creek in 2007.  

“Limited comparable supply in the nearby vicinity, the highly desirable area, and the recent renovations of the clubhouses and unit interiors were several of the factors that made these properties attractive to institutional buyers”, continued Shelley.

At the time of the sale, due to strict development restrictions in the area, both properties were the only multifamily luxury rental complexes within a two-mile radius.  The portfolio was 95% occupied at the time of sale.  CBRE represented ownership in the sale.

With over $7.3 billion in assets under management, American Realty Advisors is an investment manager to institutional investors, and has provided real estate investment management services for over 27 years utilizing core and value-added commingled funds and separate accounts.

American acquires assets directly or provides equity, preferred equity, mezzanine debt, debt, and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties.

More information regarding American can be found at

For a complete copy of the company’s news release, please contact:

Media Contacts:
Lexi Astfalk / Jenn Quader
Brower, Miller & Cole
(949) 955-7940

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