AUSTIN, Texas – October 2, 2019 – Berkadia announced today the sale of Agave Falls, a 325-unit garden-style community in Austin, Texas. Managing Director Kelly Witherspoon and Directors Michael Gonzalez and Justin Cole of Berkadia’s Austin, Texas office completed the sale on behalf of the seller, Florida-based InvestRes. The property was sold to an undisclosed buyer.
“Sustained multifamily demand has led to rising occupancy rates across the greater-Austin area,” said Witherspoon. “Growth of both the population and the economy in the area has come with the in-migration of companies, recent corporate expansions and the subsequent job creation that has resulted from the two.”
Built in 1975 and located at 1901 E Anderson Lane, Agave Falls features one- and two-bedroom floor plans with spacious private patios and balconies, hardwood flooring and vaulted ceilings. Community amenities include a fitness center, a spa, a pool and a playground. Residents are afforded convenient access to Little Walnut Creek, Highway 183 and the shops and restaurants along Interstate 35.