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Jan 16, 2018

Austin apartment complex valued at $71 million changes hands

January 5, 2018
By Gary Dinges

A Southwest Austin apartment community has changed hands.

Barings Real Estate Advisers said Friday that it had sold the Park at Monterey Oaks, a 430-unit, 37-acre complex at 4701 Monterrey Oaks Blvd., to Northland Investment Corp.

A purchase price wasn’t disclosed. The Travis Central Appraisal District valued the property at $71 million last year.

JLL managing directors Jeff Price and Scott LaMontagne represented the seller in the transaction.

“We’ve seen an increased focus on garden-style multifamily product, which accounted for nearly 70 percent of transaction activity through the third quarter,” Price said in a written statement.

Amenities at the Park at Monterey Oaks include a dog park, community garden, volleyball court, boat parking, fitness center and a pool.


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