JLL Capital Markets has closed the sale and secured acquisition financing for Vineyard Hills Apartments, a 202-unit, 2000-vintage, garden-style apartment community located in Southwest Austin, Texas.
JLL Capital Markets worked on behalf of the seller, Bob Reeves, to facilitate the sale to S2 Capital. Working on behalf of the new owner, JLL also procured the acquisition loan from Benefit Street Partners.
Featuring a range of one-, two- and three-bedroom options, Vineyard Hills has an average unit size of 928 square feet. Each unit is designed with features such as walk-in closets, balconies and detached garages and select units with fireplaces, bay windows and tile floors. Additionally, the property offers its residents a range of amenities, including a pool, heated spa, picnic area with BBQ grills, an on-site laundry facility and a dog park.
Vineyard Hills benefits from its strategic location at 7631 U.S. Hwy 290, offering convenient access to the greater Austin area via Highway 290 and Loop 1 (Mopac Expressway). This prime location is surrounded by sought-after neighborhoods such as Oak Hill, Circle C and Barton Creek, enhancing the appeal for potential residents.
Moreover, residents are in close proximity to some of Austin’s most prominent and influential employers, including Yeti Headquarters, AMD, NXP Semiconductors, ARM, Solar Winds and Ascension Seton Southwest Hospital.
The JLL Capital Markets Investment Sales and Advisory team was led by Managing Directors Ryan McBride and Robert Arzola, Senior Managing Director Robert Wooten and Associates Alex Fernandes and Nick Beardslee.
Senior Managing Director Mark Brandenburg led the JLL Capital Markets Debt Advisory team.
