Done Deals: JLL Capital Markets closes on the sale and secures acquisition financing for Vineyard Hills Apartments, a 202-unit apartment community in Southwest Austin, TX.

Saturday, June 29, 2024

JLL Capital Markets closes on the sale and secures acquisition financing for Vineyard Hills Apartments, a 202-unit apartment community in Southwest Austin, TX.

Vineyard Hills Apartments, a 202-unit,
2000-vintage, garden-style apartment
community in Southwest Austin, TX

AUSTIN, TX – JLL Capital Markets has closed the sale and secured acquisition financing for Vineyard Hills Apartments, a 202-unit, 2000-vintage, garden-style apartment community located in Southwest Austin, Texas. Financial details were not disclosed.

Ryan McBride

JLL Capital Markets worked on behalf of the seller, Bob Reeves, to facilitate the sale to S2 Capital. Working on behalf of the new owner, JLL also procured the acquisition loan from Benefit Street Partners.

Featuring a range of one-, two- and three-bedroom options, Vineyard Hills has an average unit size of 928 square feet. Each unit is designed with features such as walk-in closets, balconies and detached garages and select units with fireplaces, bay windows and tile floors.

Robert Arzola

Additionally, the property offers its residents a range of amenities, including a pool, heated spa, picnic area with BBQ grills, an on-site laundry facility and a dog park.

Vineyard Hills benefits from its strategic location at 7631 U.S. Hwy 290, offering convenient access to the greater Austin area via Highway 290 and Loop 1 (Mopac Expressway). This prime location is surrounded by sought-after neighborhoods such as Oak Hill, Circle C and Barton Creek, enhancing the appeal for potential residents.

Robert Wooten

Moreover, residents are in close proximity to some of Austin's most prominent and influential employers, including Yeti Headquarters, AMD, NXP Semiconductors, ARM, Solar Winds and Ascension Seton Southwest Hospital.

The JLL Capital Markets Investment Sales and Advisory team was led by Managing Directors Ryan McBride and Robert Arzola, Senior Managing Director Robert Wooten and Associates Alex Fernandes and Nick Beardslee.

“The Southwest submarket stands out as one of Austin's highest barrier-to-entry submarkets for new developments, providing a solid foundation for investment and growth,” said Wooten. “As Austin continues to be a top target market among private and institutional investors, the outlook for multi-housing remains strong.”

Alex Fernandes

Senior Managing Director Mark Brandenburg led the JLL Capital Markets Debt Advisory team.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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