Mill Creek Residential Acquires Alister Sunset Valley in Austin, Texas

Are you looking for the latest news in the multifamily housing industry? Look no further than the recent acquisition of the Alister Sunset Valley property in Austin, Texas by Mill Creek Residential. This garden-style apartment community, with 290 units, has caught the attention of one of the top developers in the nation.

Mill Creek Residential, with its roots in Trammell Crow Residential, has established itself as a leader in apartment development. While traditionally known for building properties, the firm is now shifting its focus towards acquisitions and investment management. With the launch of its second value-add fund, Mill Creek is poised to expand its investment portfolio and become a full-service investment management firm.

The acquisition of Alister Sunset Valley is a strategic move for Mill Creek, as the property offers great potential for value-add improvements. With a prime location in South Austin, close to downtown and the airport, the community is well-positioned for growth. The property boasts a range of amenities, including a resort-style pool, outdoor courtyard, clubhouse, and fitness studio.

Mill Creek plans to enhance the property by updating kitchens, bathrooms, and select amenities to attract new residents and increase the overall appeal of the community. With a focus on increasing curb appeal and interior appeal, Mill Creek aims to achieve a modest return on their investment.

If you’re interested in staying up-to-date on the latest news in the multifamily housing industry, be sure to sign up to receive articles like this one in your inbox every weekday. Stay informed and stay ahead of the curve with Mill Creek Residential and their strategic acquisitions like Alister Sunset Valley.