The Atlanta-based firm has actively sought an Austin property as demand has grown significantly for new multifamily products, Steven DeFrancis, Cortland Partners CEO, said in a statement.
“The city continues to attract new residents, jobs and economic growth,” DeFrancis said, “resulting in increased demand and continued low vacancy.”
Commercial Property Executive reports City View Apartments, 4900 Oltorf Dr., is nestled within a neighborhood revitalized by young professionals, and features an abundance of restaurants, bars and coffee shops nearby. Lady Bird Lake and other attractions also offer exceptional recreational opportunities in the area.
The 308-unit community offers one, two and three-bedroom apartments, with amenities including carports, detached garages, landscaped grounds, a fitness center, a club room with large-screen TV, a fireplace lounge, outdoor grills and gas fireplaces, and a 24-hour laundry facility.
City View joins Cortland Partners’ extensive portfolio, which includes 10 apartment communities in Dallas-Fort Worth, six in Houston and three in San Antonio.