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Draper And Kramer Acquires Austin's 307-Unit Griffis At Riata Property

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SOLD

Texas

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MultiFamily
Sold 08/31/2023
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Property Image
SOLD

Draper And Kramer Acquires Austin's 307-Unit Griffis At Riata Property

5705 Diehl Trail Austin, TX 78727, USA

See Similar Deals
MultiFamily
Sold 08/31/2023
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

Draper and Kramer has acquired the Griffis at Riata property in Austin's tech district. The property is located opposite the Apple corporate campus and has been rebranded as DK Riata. It features a mix of one and two-bedroom units across 17 buildings, including townhomes. The property spans 16.9 acres and is 95% leased at the time of purchase. Amenities at DK Riata include co-working spaces, fitness centers, and a resort-style pool.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Units: 307
  • Acres: 16.9
  • Buyer: Draper and Kramer - Todd Bancroft

Draper and Kramer, represented by Todd Bancroft, has successfully acquired the Griffis at Riata property. This transaction allows Draper and Kramer to expand its presence in Austin's tech district and capitalize on the high demand for housing in the area. With the property's prime location and a variety of desirable amenities, DK Riata is expected to attract tenants looking for a convenient and vibrant living experience.

Players

TB
Todd Bancroft
6 deals$263.2M volume
BUYER

Details

SOLD
IMAGE: Todd Bancroft DATE: 08/31/2023 ADDRESS: 5705 Diehl Trail MARKET: Austin ASSET TYPE: Multifamily ~ UNITS: 307 ~ ACRES: 16.9 BUYER: Draper and Kramer (@DraperandKramer) - Todd Bancroft NOTE: Draper and Kramer has acquired Austin's 307-unit Griffis at Riata property, located in the city's tech district and opposite the Apple corporate campus. The rebranded DK Riata boasts a mix of one and two-bedroom units across 17 buildings, including townhomes, and features amenities like co-working spaces, fitness centers, and a resort-style pool, all situated on 16.9 acres and 95% leased at the time of purchase.

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