AUSTIN, TX – Safety Properties bought Brightleaf at Lakeline, a Class-A multifamily property positioned in Austin, TX in an off-market transaction. Safety Properties now owns 112 property totaling roughly 23,000 items throughout its portfolio, together with one different 204-unit, market-rate property in Austin as they proceed to develop in Texas.
Brightleaf at Lakeline was accomplished in 2022 and consists of 304 dwelling items unfold throughout 3 midrise buildings and 5 carriage-style buildings on 12.3 acres. The Property options one and two-bedroom ground plans averaging 880 sq. toes. Unit interiors encompass granite counter tops, designer backsplashes, GE chrome steel home equipment, kitchen pantries, faux-wood flooring in residing and moist areas, carpet in bedrooms, full-sized washer and dryers, spacious closets, and excessive ceilings (9-10 toes). From an amenity perspective, the property gives a recent clubhouse/leasing heart, 24-hour health heart with on-demand digital trainers, yoga studio, enterprise lounge & convention heart, sport room, BBQ space with grills, resort-style pool and sundeck, pet park and spa, and controlled-access gates.
Brightleaf at Lakeline is positioned 17 miles north of downtown Austin inside the extremely fascinating Cedar Park submarket. The submarket is anchored by the super-regional Lakeline buying district which is bisected by two main interstates (US-183 and SH-45). Inside a 1.5-mile radius of the Property there are almost 5 million sq. toes of retail, together with Lakeline Mall, Lakeline Market, Lakeline Plaza, and Parkline Purchasing Heart.
The pivotal location additionally offers rapid entry to the realm’s premier faculties and a few of Austin’s largest employers. The Northwest Austin submarket is residence to the biggest focus of workplace house within the Austin MSA with over 16.5 million sq. toes of house. This hall has been focused by main expertise firms in recent times because of the presence of expertise and the flexibility to construct expansive workplace campuses. Essentially the most notable current instance is Apple, which has an current operations heart and is at the moment developing a brand new 3M SF campus simply 5 miles south of the Topic. Different employers embody State Farm’s regional service heart, Amazon, eBay/PayPal, and Visa.
In line with Davis Vaughn, Managing Director at Safety Properties, “The acquisition of Brightleaf at Lakeline helps cement our footprint within the Austin market as we proceed our enlargement there. It is a high-quality asset at a major low cost to substitute value in certainly one of Austin’s most extremely desired submarkets. Cedar Park’s inhabitants has been booming in recent times and can seemingly proceed to develop as residents flock to the suburbs in the hunt for house, affordability, and proximity to a few of Austin’s largest employers.”