Boston, MA – (February 13, 2018) GID announced today that it has acquired Republic Place, a 290 unit apartment community located in Austin, Texas. The property is located across the street from Apple’s Southwest headquarters and is a ten minute drive to the Domain, a two million square foot mixed-use development which is home to Amazon, Facebook and IBM, as well as upscale dining and retail. The Property has excellent visibility along Parmer Lane, which averages 50,000 cars per day and provides access to other area employers like Dell, Samsung and eBay.
Built in 2017 by Epoch Residential, the garden-style property is made up of thirteen residential buildings and one clubhouse, with surface parking and a limited number of private garages. Republic Place is made up of 55% one bedroom, 41% two bedroom, and 4% three bedroom units. Units feature nine-foot ceilings, granite countertops, forty-two inch upper cabinets, stainless steel appliances and vinyl plank flooring. The community contains a resident lounge, kitchen, game room and meeting room. The clubhouse also features a folding curtain wall system which can be opened to an outdoor poolside lounge with a fireplace.
Gary Kroll, Vice President and Director of Central Region Acquisitions at GID, commented, “This transaction provided an opportunity to acquire a quality asset in northwest Austin, a growing submarket which benefits from ongoing tech in-migration and relocation. We are pleased to be located near such major employment centers as the Apple headquarters and the Domain. We are happy to add Republic Place into our expanding Austin Portfolio.”