RICHMOND, Va. – 37th Parallel Properties has acquired a three-property, 344-unit portfolio in Travis and Bexar Counties.
The properties, built in the 1980s, include the
128-unit Bridgehead Apartments at 6001 Shepherd Mountain Cove in Austin,
132-unit Melrose Place Apartments at 6511 Melrose Trl. in Austin, and
84-unit Tradewinds Apartments at 8802 Tradewind Dr. in Windcrest.
The properties were 97.6 percent occupied at the time of sale.
Berkadia arranged financing. CBRE represented the seller.