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| Steven DeFrancis |
AUSTIN, TX — Cortland
Partners has entered the Austin market with the acquisition of City View
Apartments, a 308-unit apartment near the heart of Austin’s CBD.
With Austin’s current and
projected rapid employment growth, Atlanta-based Cortland Partners has been
seeking the right opportunity to expand its Texas portfolio in this market.
The
company currently has regional offices in both Dallas and Houston and owns 10
apartment communities in the Dallas-Fort Worth area, six in Houston, and three
in San Antonio.
According to the Austin
Chamber of Commerce, employers added 32,500 net new jobs from June 2014 to June
2015, representing a growth rate of 3.6 percent over 12 months.
This growth in
turn bodes well for the city’s rental housing market. “The Austin market has
seen significant demand for new multifamily product during the past five
years,” said Steven DeFrancis, CEO
of Cortland Partners.
“The city continues to
attract new residents, jobs and economic growth, resulting in increased demand
and continued low vacancy. Cortland Partners has a unique capability to
revitalize current multifamily offerings in the Austin market to better meet
this demand.”
For a
complete copy of the company’s news release, please contact:
Sarah DeFrancis
Cortland Partners
404.965.3988
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