JLL Capital Markets arranged the refinancing for The Albright, a brand-new 261-unit luxury apartment community in Austin, Texas.
JLL represented the borrower, ParkProperty Capital, to secure a floating-rate loan through ACRE.
The Albright represents one of Austin’s newest and highest-quality apartment communities, having been delivered in 2024. The five-story mid-rise property features 261 meticulously designed units with an average size of 876 square feet, comprising studios, one-bedroom, two-bedroom and three-bedroom layouts. Units showcase premium finishes including granite countertops, designer ceramic tile backsplash, stainless steel appliances, wood-style plank flooring, nine-foot ceilings, smart locks and light switches and walk-in closets.
The community offers resort-style amenities, including a resort-style pool, 24-hour fitness center, co-working spaces, gaming area with pool table, rooftop sky deck with views overlooking Austin, outdoor entertainment area with grill and kitchen, enclosed pet park, pet wash station, bike room, package room and parking garage.
Located at 8528 Burnet Rd. in Austin’s rapidly growing North Central submarket, the property provides residents with unparalleled connectivity to Austin’s major economic and entertainment hubs. The property sits at the convergence of multiple major thoroughfares, with MoPac Expressway just three minutes away, US-290 seven minutes away, I-35 eight minutes away and US-183 three minutes away. This strategic positioning places residents within easy reach of downtown Austin, the University of Texas campus and the Texas State Capitol, all located six to seven miles south.
The property benefits from its proximity to The Domain, Austin’s premier mixed-use development located just two miles away. Often referred to as Austin’s second downtown, The Domain encompasses 1.8 million square feet of high-end retail space and serves as a major employment center housing corporate offices for technology giants, including Meta, Indeed, Amazon, Expedia, IBM and Charles Schwab.
The JLL Capital Markets team was led by Elliott Throne, Josh Odessky and Jayme Nelson.
