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Texas  + Austin  + Apartments  |  April 13, 2022
Erik Hamilton
By: Erik Hamilton

JLL Capital Markets Negotiates Sale of New Adult Apartment Community in Austin

JLL Capital Markets announced today that it has closed the sale of the newly built ArborView, a 151-unit, age-restricted (62+) active adult apartment community in Austin. JLL represented the seller, Cadence Multi-Family, in the sale of the property to Sparrow Partners. The buyers assumed the existing HUD financing on the project.

 Opened in 2021, ArborView is located at 12100 Archeleta Blvd. in Greyrock Ridge within the Circle C Ranch master-planned community in southwest Austin. Development of Circle C Ranch began in 1982 and today the community includes over 6,400 homes. Neighborhood amenities include an 18-hole golf course, tennis club, four swim center and more than 500 acres of dedicated park land.

 Charles Bissel, managing director of The JLL Capital Markets Investment Sales and Advisory, led the team representing the seller. The transaction amount was not disclosed.

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JLL Markets GroupCadence MultifamilySparrow Partners

About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.
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