AUSTIN – Sterling Equities has purchased Zoey Apartments, a 306-unit luxury community in the East Riverside neighborhood.
The project has 38 affordable units, a fitness area, pool, rooftop lounge, bike storage facility, dog wash area, co-working spaces, and recreation areas.
The seller, Michaels Organization, developed the property for $59.2 million. Leasing began early last month, and the community was 82 percent occupied at the time of sale.
Berkadia arranged the transaction.
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