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Sherman Residential Acquires Water Oak Luxury Multifamily In Austin From JCI Residential

Property Image
SOLD
Andrew Dickson
Patton Jones

Texas

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MultiFamily
Sold 12/13/2023
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Property Image
SOLD

Sherman Residential Acquires Water Oak Luxury Multifamily In Austin From JCI Residential

12234 Heatherley Drive

See Similar Deals
MultiFamily
Sold 12/13/2023
Andrew Dickson
Patton Jones
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

Chicago-based Sherman Residential has acquired Water Oak, a 292-unit luxury multifamily property located at 12234 Heatherley Drive in Austin, Texas. The transaction took place on December 13, 2023. Water Oak is strategically located near downtown Austin along the I-35 corridor, offering a "luxury on a budget" experience. The property is in close proximity to major employment and entertainment destinations, making it an attractive investment for Sherman Residential.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not Specified
  • Units: 292
  • Address: 12234 Heatherley Drive, Austin, Texas
  • Market: Austin

In this deal, Sherman Residential was represented by David Sherman from their own agency. JCI Residential, the seller, was represented by Sam Kumar. The transaction was facilitated by brokers Andrew Dickson and Patton Jones from Newmark.

Players

Patton Jones
Newmark
Patton Jones
49 deals
BROKER
Andrew Dickson
Newmark
Andrew Dickson
21 deals
BROKER
Sherman Residential
Sherman Residential
BUYER
JR
JCI Residential
SELLER

Details

SOLD
IMAGE: David Sherman, Sam Kumar, Andrew Dickson & Patton Jones DATE: 12/13/2023 ADDRESS: 12234 Heatherley Drive MARKET: Austin ASSET TYPE: Multifamily ~ UNITS: 292 BUYER: Sherman Residential - David Sherman SELLER: JCI Residential - Sam Kumar BROKERS: Andrew Dickson & Patton Jones - Newmark (@Newmark) NOTE: Chicago-based Sherman Residential has acquired Water Oak, a 292-unit luxury multifamily property near downtown Austin, Texas, from JCI Residential. The "luxury on a budget" experience in South Austin along the I-35 corridor attracted Sherman Residential, strategically located near major employment and entertainment destinations.

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