AUSTIN, Texas, Sept. 12, 2023 /PRNewswire/ — Transwestern Investment Group (TIG®), on behalf of Transwestern Strategic Partners Fund II (“TSP Fund II”), announces the sale of The Warner, a 336-unit multifamily community at 2670 S. AW Grimes Blvd. in Round Rock, Texas. The 7-building property was 96.1% occupied and 97.5% leased at the time of the sale.
“Austin boasts one of the strongest multifamily markets in the country,” said Clarke Crenshaw, Senior Managing Director for TIG. “Through our partnership with Stanmore Partners, we were able to successfully deliver a high-quality community that offers best-in-class amenities in proximity to Austin’s major employers and great shopping.”
Built in 2022, The Warner features outdoor spaces, including poolside cabanas, a tanning deck and an outdoor dining area. The community also boasts air-conditioned corridors, elevator access, courtyards with game lawns, outdoor kitchens, green space, a yoga/fitness lawn, and a private dog park. The interior offers residents a clubhouse with an entertainment kitchen, fireplace, seating areas, billiards, a latte and tea bar with Wi-Fi access, and a 24-hour athletic club. Each unit includes a Smart thermostat, wood-style flooring, built-in USB outlets, stainless steel appliances, quartz countertops with undermount sinks, and modern lighting and fixtures.
Located at the intersection of State Highway 45 and Interstate 35 in the Texas Innovation Corridor, The Warner is in proximity to some of the city’s major technology employers, including Dell, eBay/PayPal, Applied Materials, Samsung and Apple. The property is less than 7 miles from The Domain, offering more than 300 acres of retail, entertainment, green space, office and hospitality.
Newmark’s Patton Jones and Andrew Dickson brokered the deal.
Photos available for download here.
In October 2022, TIG announced the close of Transwestern Strategic Partners Fund III. The fund closed with $325 million of commitments, the company’s largest fundraise to date. Similar to TSP Fund II, TSP Fund III focuses on diversified value-add investment and development opportunities in markets across the U.S. that are driven by strong job growth and global supply chains.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with approximately $5.0 billion of assets under management. The firm serves a broad range of institutional and high-net-worth investors with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm strives to drive value for investors across commercial real estate services, development, investment management. Operating from 33 U.S. offices, the Transwestern companies extend its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.