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L.A. Buyer Snags Austin Luxury Apartments
FourPoint Investment Sales Partners arranged the sale of Ethos Apartments in Austin. Built in 2014, Ethos Apartments is a 372-unit luxury garden apartment community.
FourPoint’s multifamily team, partner Kevin Dufour and director Kyle Peco, led the off-market disposition effort. The Los Angeles-based buyer plans to self-manage the property on a long-term basis.
“Ethos was put under contract post-COVID without any discounts to pricing or material changes to customary business terms of the deal,” said Dufour. “We were able to work successfully alongside the buyer, lender and seller to push this transaction across the finish line in a streamlined process.”
He added, “Despite the headwinds created by COVID, we continue to see the national multifamily investment community focus their attention on the Austin MSA, which has continued to be a top-performer with significant population growth and below average unemployment.”
FourPoint represented the seller, Sherman Residential, in the property disposition.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
