ATHENS,
Ga., May 1, 2024 /PRNewswire/ -- Landmark
Properties, a fully-integrated real estate firm specializing in
development, construction, investment management, and operation of
high-quality residential communities, has acquired Pointe on Rio in
Austin, Texas. Pointe on Rio, soon
to be rebranded as Tradition on Rio, is Landmark's seventh asset in
the Austin market; the acquisition
adds 321 beds and 122 units to the company's portfolio.
Built in 2014, this mid-rise community at 1901 Rio Grande Street
boasts a nearly 94% preleasing rate for the Fall 2024 term and is a
popular choice for students attending the University of Texas at Austin who are looking to
live close to campus. Its diverse range of apartment layouts,
spanning from studio to five-bedroom floorplans, features upscale
amenities including hardwood floors, stainless steel appliances,
and in-unit washer/dryers.
"We're excited to add Pointe on Rio to the Landmark portfolio, a
well-performing asset in one of the most institutionally
sought-after student housing markets in the country," said JD
Goering, Landmark's Senior Vice President of Acquisitions.
"University of Texas at Austin's Fall
2023 enrollment marked the university's largest-ever, a 1.3% growth
year over year."
Pointe on Rio presents students with a number of sought-after
amenities, such as a courtyard pool, resident lounge with gaming
area, pool table and TVs, on-site parking, fitness center,
conference/study room, and numerous resident events throughout the
year. The property is close to the UT Austin West Campus bus stop,
nearby shops and restaurants.
Landmark's significant presence in Austin is bolstered by a portfolio totaling
3,769 beds across renowned communities including Legacy on Rio, The
Mark Austin, The Standard at Austin, The Nine at Rio, The Nine at West
Campus, and Moontower. Notably, all of these properties are showing
strong preleasing for the 2024-25 school year.
About Landmark Properties
Headquartered in Athens, Ga.,
with an office in Atlanta,
Landmark Properties is a fully integrated real estate firm,
specializing in the acquisition, development, and management of
high-quality residential communities. With $13 billion in AUM, Landmark's portfolio includes
over 115 residential communities across the country with 71,000
beds under management. Additionally, Landmark benefits from an
active development pipeline with 22 student and multifamily
projects under construction or near term start with an estimated
value of nearly $5 billion.
Landmark's mission is to be the leader in development,
construction, operations, and investment management of high-quality
residential communities, delivering unrivaled service and
experience to our residents, partners, and employees. For more
information, visit www.landmarkproperties.com.
Media Contacts:
Landmark Properties/Landmark
Construction
Great Ink Communications – (212) 741-2977
Lindsay Church, Sara Williams, Eric
Gerard
377086@email4pr.com
View original
content:https://www.prnewswire.com/news-releases/landmark-properties-acquires-pointe-on-rio-in-austin-texas-302133352.html
SOURCE Landmark Properties