Neighboring Oak Hill apartments purchased
AUSTIN – BSR Real Estate Investment Trust has acquired two adjacent Class A garden-style communities from Starlight Investments for $104.4 million.
Cielo is a 26-building, 326-unit property built in 2014 on 38 acres.
Built in 2015, Madrone totals 228 units in eight three- and four-story buildings spread across 41 acres.
Units include one- to three-bedroom floor plans ranging from 627 to 1,607 sf. They feature washers and dryers, high ceilings, private balconies/patios, and outside storage.
Amenities include a fitness center, a business center, two swimming pools, and 831 parking spaces.
After purchasing the communities in 2016, Starlight had combined the properties at 3499 Ranch Rd. 620 S. into one community called Madrone Apartment Homes.
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Source: Multi-Housing News
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