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| SoCo I and II, 3504 and 3508 Alpine Circle, Austin, TX |
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| Matt Pohl |
AUSTIN, TX –
June 10, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it
has closed the sale of SoCo I and II,
a 59-unit, boutique multi-housing community located in Austin, Texas.
HFF marketed
the asset on behalf of Artesia. EG Funds
Management purchased the property for an undisclosed amount.
SoCo I &
II is located at 3504 and 3508 Alpine Circle between South Congress and South
1st Street in the South Austin submarket, which is one of the most highly
sought after areas given its proximity to downtown Austin and St. Edwards
University.
Most recently renovated in
2014, the boutique community consists of a pair of two-story buildings situated
on 1.35 acres and was 98 percent occupied at closing.
The HFF
investment sales team representing the seller was led by director Matt Pohl along with senior managing
director Sean Sorrell and senior
real estate analyst Ryan McBride.
“The sale of
SoCo I & II highlights the international interest Austin now receives from
a global investment standpoint.
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| Sean Sorrell |
"Historically, Austin has been a focal point of investors both locally
and nationwide, but throughout the last couple of years we have seen
international private equity come into the market seeking investment
opportunities.
"That is a big deal for
Austin and provides insight into just how attractive the area has become from
an investment standpoint,” said Pohl.
For a complete copy of
the company’s news release, please contact:
Olivia
Hennessey
Public
Relations Coordinator
HFF | 9
Greenway Plaza Suite 700 | Houston, Texas 77046
tel
713.852.3403 | fax 713.527.8725 | www.hfflp.com
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