A gated luxury community with 502 apartments in Steiner Ranch has been sold for $80 million — the latest in a recent spate of apartment-complex sales made as investors’ interest grows in Central Texas’ robust multifamily market.
The purchase of Monterone at Steiner Ranch, which is being renamed Meritage at Steiner Ranch, is the largest to date for Steadfast Income REIT Inc., which based in Irvine, Calif. It’s the group’s third apartment acquisition in Austin.
The story you're reading is premium content from the Austin American-Statesman. Subscribers get total access to all our in-depth news, digital editions and exclusive premium content. You can now also buy a 24-hour digital pass or 7-day digital pass.
For Subscribers: Sign in here if you have already registered your account.Sign In
For Subscribers: Register your account for digital access.Access Digital
Read MyStatesman.com now — 24-hour digital pass99¢ for 24-hours
Read MyStatesman.com all week — 7-day digital pass$3.99 for 7-days
Subscribe to the Statesman for as little as 33¢ per dayView Offers