Friday, October 21, 2016
AUSTIN, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured financing for The Parker, a 152-unit multi-housing community in central Austin.
HFF marketed the property exclusively on behalf of the seller, Icon Urban Group, LLC. Austin Capital Advisors purchased the asset for an undisclosed amount. In addition, HFF assisted the new owner in securing a seven-year, fixed-rate acquisition loan through LStar Capital.
The Parker is situated on 4.87 acres at 5106 North Lamar Boulevard immediately northeast of the convergence of North Lamar Boulevard and West Guadalupe Street.
Originally constructed in 1967 and extensively renovated in 2015, the property is designed in a retro modern style and is convenient to downtown, The University of Texas and major transportation arteries such as Interstate 35 and Mopac Expressway.
The Parker has a mix of one-, two- and three-bedroom floor plans averaging 643 square feet with community features, including two resort-style swimming pools with cabanas; outdoor bar; barbecue and picnic areas; life-size outdoor chess board and croquet; 24-hour fitness center; dog run; and a courtyard with fire pits and reflection pool. The property also offers guest rooms for short-term lease.
The HFF investment sales team representing the seller was led by director Forrest Bass.
HFF’s debt placement team representing the buyer was led by director Casey Wenzel.
For a complete copy of the company’s news release, please contact:
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com
Posted by Alex at 1:37 PM