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| The Parker Apartments, 5106 Lamar Boulevard, Central Austin, TX |
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.
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| Casey Wenzel |
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:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | hfflp.com
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