CEDAR PARK – Old Three Hundred Capital has purchased Muir Lake Apartments, a 322-unit apartment community on 46.1 acres at 12600 Avery Ranch Blvd.
Built in 2014, the asset has one- and two-bedroom floor plans. It is 96 percent leased.
The apartments are along a 30-acre water feature called Muir Lake. Residents have canoeing, kayaking, and boating access.
Other amenities include a swimming pool with sundeck, grills and a fireplace lounge, fitness center, yoga room, indoor spa, steam room, sauna, fully fenced dog park, and business center.
JLL securing $61.4 million in acquisition financing through Walton Street as well as equity through Arrowmark Commercial Real Estate Partners.
Sterling Real Estate Partners purchased the asset in 2019.