HFF closes sale of Deerfield Apartments in Austin’s southwest submarket

AUSTIN, TX – HFF announced today that it has closed the sale of Deerfield Apartments (top left photo), a 324-unit, Class A multi-housing community in Austin’s southwest submarket.

HFF marketed the property exclusively on behalf of the seller, Nevins Adams Lewbel Schell. Austin-based Falcon Southwest purchased Deerfield Apartments for an undisclosed amount. The new ownership will implement moderate upgrades to common areas and unit interiors during its hold period.

Deerfield Apartments is located at 8700 Brodie Lane close to Mopac Expressway and Highway 71 about 10 miles southwest of downtown Austin. Completed in 2001, the property has one-, two- and three-bedroom units averaging 945 square feet each. Deerfield Apartments was 97 percent leased at the time of sale.

The HFF investment sales team representing the seller was led by senior managing director Sean Sorrell (lower right photo).

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

SEAN SORRELL
HFF Senior Managing Director
(512) 532-1900
ssorrell@hfflp.com

KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
krmurphy@hfflp.com