GID announced today that it acquired Hanover South Lamar, a 340 unit apartment community in Austin, Texas. The property was developed by The Hanover Company in 2015 and holds a National Green Building Standard Bronze certification.
The community is located on South Lamar Boulevard one mile south of the downtown central business district and near some of Austin’s most popular local bars and restaurants. Amenities at the property include two large outdoor courtyards, one of which contains a resort-style swimming pool, as well as a fitness center, resident lounge with billiards and a demonstration kitchen, private theater room, business center, conference room and expansive dog park. Unit finishes consist of 9’6” ceiling heights, granite or quartz countertops, stone tile backsplashes, engineered hardwood flooring in living and dining areas, custom cabinetry and bathrooms with granite or quartz countertops, tiled tub and shower surrounds and frameless shower doors. Additionally, the property contains 5,300 square feet of fully-leased retail and office space.
Gary Kroll, Vice President and Director of Central Region Acquisitions at GID, commented, “We are thrilled to add Hanover South Lamar to our portfolio. Its proximity to the city’s rapidly expanding downtown employment center and abundance of entertainment and retail options within a short walk will allow residents to enjoy a live/work/play lifestyle. We believe this combination of locational attributes, high-end finishes and lavish amenities is difficult to replicate.”