Stratus Properties Sells Austin Multifamily For $152M

This multifamily property located at 7624 Tecoma Cir in Austin was recently sold for a staggering $152,000,000. The transaction was completed on 09/23/2021, making it one of the significant deals in the Austin market. The property comprises a total of 448 units, resulting in an average price per unit of $339,286.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $152,000,000
• Address: 7624 Tecoma Cir, Austin
• Market: Austin
• Number of Units: 448
• Price Per Unit: $339,286

The seller of this property was Stratus Properties, with William H. Armstrong III representing the company in the deal. The involvement of Stratus Properties adds further prominence to the transaction. The sale of this multifamily asset highlights the strong demand and robust investment activity in the Austin real estate market.