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Estates at Bee Cave Presents Rare Opp in Desired West Austin
Estates at Bee Cave, a 316-unit multifamily asset in suburban Austin, recently sold to an affiliate of Abacus Capital Group for an undisclosed price. The property is located at 3544 South FM 620 Rd. in Texas’ Hill Country.
Newmark’s Patton Jones and Andrew Dickson represented the seller, Internacional. Newmark has represented the sale of the property twice in five years.
“Estates at Bee Cave presented investors with a rare opportunity to invest in the highly desired West Austin submarket that is benefiting from exceptional fundamentals. The cost of single-family housing continues to skyrocket in Austin, and more renters are seeking highly amenitized luxury apartment communities, particularly in the Bee Cave/Lake Travis area. Additionally, Estates at Bee Cave is one of eight multifamily communities of more than 100 units zoned to Lake Travis ISD. The asset is an excellent addition to Abacus’ expanding Central Texas portfolio,” said Jones.
- ◦Sale/Acquisition
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