3 Austin-area apartment complexes under new ownership


Three Central Texas apartment complexes have changed hands.

Tacara Steiner Ranch, a 246-unit project at 4306 N. Quinlan Park Road in Steiner Ranch, sold for $47.9 million, according to securities filings.

TH Real Estate was the buyer; San Antonio-based Casey Development Limited was the seller.

JLL represented the seller in the transaction.

The complex was completed last year. Amenities include a dog park, infinity pool and spaces for yoga.

“The Tacara Steiner community is a high-quality luxury residential development deserving of institutional ownership,” JLL managing director Scott LaMontagne said. “It has superior amenities, is situated close to many of Austin’s top employers and offers residents stunning views of Lake Travis.”

The other transaction involves two Northwest Austin complexes: Westwood Apartments, at 12403 Mellow Meadow Drive, and Audubon Square, at 12425 Mellow Meadow Drive.

They were acquired from WW Apartments LP and Investors Capital Group, respectively, by a partnership consisting of JoCo Partners and The ValCap Group.

A purchase price was not disclosed. The Williamson Central Appraisal District valued Westwood Apartments at $13.3 million and Audubon Square at $13.9 million this year.

Plans call for the two complexes to be merged into a single, 316-unit property called The Lantern.

As part of the conversion, each apartment unit will be remodeled with high-end finishes. All three of the properties’ swimming pools will be upgraded, one of the apartment complex offices will be converted into a clubhouse and a dog park and dog-washing station will be added.



Reader Comments ...


Next Up in Business

Up the Ladder

Architecture and interior design Mark Odom Studio has named Mari Michael Glassell design director. Biomedical XBiotech has named Alice Gottlieb to its scientific advisory board. Data security SpyCloud has named Jennifer Parker-Snider chief financial officer. Government The Railroad Commission of Texas has named Danny Sorrells assistant executive director...
Top Local Business Stories of the Week
Top Local Business Stories of the Week

ECONOMIC GROWTH: Austin’s economy topped all major U.S. metro areas in growth in 2017: If it hasn’t been obvious from the construction cranes, real estate prices and traffic congestion, some new federal data illustrates the magnitude of the Austin area’s economic boom. The local economy grew by 6.9 percent in 2017, making the Austin-Round...
Beef jerky sold at Buc-ee’s recalled
Beef jerky sold at Buc-ee’s recalled

Hundreds of pounds of beef jerky sold at popular mega-gas station Buc-ee’s are being recalled, accoring to a U.S. Department of Agriculture Food Safety and Inspection Service announcement Friday. The agency said approximately 690 pounds of ready-to-eat teriyaki beef jerky products from Junior’s Smokehouse Processing Plant in El Campo may...
Hill Country Galleria adds new shops, restaurants
Hill Country Galleria adds new shops, restaurants

The Hill Country Galleria continues to beef up its tenant roster. The Bee Cave development, which recently added an H&M store as part of a multimillion-dollar makeover, will see several new stores and restaurants open their doors in the coming weeks and months. By fall, expect to see these additions: A pop-up shop from athletic wear...
Local August jobless rate slips to 3% in continued tight labor market
Local August jobless rate slips to 3% in continued tight labor market

Local businesses that have been having a tough time hiring workers amid an extremely tight regional labor market won’t find much relief in Austin’s latest unemployment rate, which ticked down another notch in August. For anyone looking for a job, however, the new figures indicate the Austin metro area should remain high on the list of places...
More Stories