Wednesday, September 22, 2010

HFF closes sale of Class AA multi-housing community in Austin, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Nalle Woods (top left photo) , a 238-unit, Class AA multi-housing community in Austin, Texas.

The HFF investment sales team was led by senior managing director Bill Miller (middle right photo)  and managing director Roberto Casas (lower left photo)  who represented the seller, Larry Peel & Co. 

 Institutional investors advised by J.P. Morgan Asset Management – Global Real Assets purchased the property for an undisclosed price on an all cash basis. 

Nalle Woods is located at 4700 N. Capital of Texas Highway at the Lake Austin Bridge in Austin. 

Completed in 2004, the property has one- and two-bedroom units that feature condominium-quality finishes including stainless steel appliances, granite countertops and vaulted ceilings. 

 Community amenities include a clubhouse, fitness center, swimming pools with waterfall and water volleyball, business center, billiard room and spa with steam room. 

“Nalle Woods was awarded ‘Austin’s Best Apartment Community’ by the Austin Business Journal and is truly a top-of-the-line apartment community that offers great views of Lake Austin and the Texas Hill Country,” said Miller. 

“Both parties, Larry Peel & Co. and J.P. Morgan, did a great job moving towards a closing in less than 35 days.”

“Bill Miller and Roberto Casas allowed for a professional and smooth experience.  We truly enjoyed working with JP Morgan and HFF on the sale,” added Janaelle Braun of Larry Peel & Co. 

William D. Miller, HFF Senior Managing Director, (214) 265-0880,
Roberto E. Casas, HFF Managing Director, (214) 265-0880,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

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