9/5/2008

Transwestern handles sale of Austin apartments

by Drew Smith

Hampton Apartments

Brokers from Transwestern have represented Brookstone Associates in the sale of the Hampton Apartments in Austin, Texas to locally-based Belco Equities, Inc.

Jeff Rogers and Chris Stutzman of Transwestern's Central Texas Multifamily Group brokered the deal.

The apartments are situated on 10 acres in the Wells Branch submarket at 1773 Wells Branch Pkwy. The complex contains 308 units and was built in the mid-1980s. The buyer has holdings in Austin and Central Texas.

"Both buyer and seller were pleased to get the transaction closed in the current difficult debt and equity environment" Rogers said. "The buyer, who has holdings throughout the Austin metro area, looks forward to adding value to this mid-1980's project."

Address: 1773 Wells Branch Pkwy., Austin, Texas

Size: 308 units

Built: Mid-1980s

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Filed Under: Multi-Family

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