California REIT nabs Austin apartments in $45 million deal

rent_office spaceA California-based real estate investment company closed a deal to acquire two apartment complexes in Austin for a $45 million.

The company Steadfast Apartment REIT is based in Orange County. It has recently purchased Club at Summer Valley for the amount of $21.4 million (without the closing costs). They have also bought the Terrace Cove for the price of $23.5 million (without the closing costs).

These properties are located at 744 West William Cannon Drive and 6201 Sneed Cove, respectively.

Steadfast Apartment REIT started its operations in May of this year and also acquired apartment communities in Tennessee and Indianapolis.


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