| Austin based Ardent Residential and Atlanta-based | | | | in barbecue, and outdoor fireplace, a carport, and |
| Post Properties have purchased almost five acres | | | | an attached parking garage. All common areas of |
| of land in a highly desirable area for | | | | the building include wireless Internet access, and |
| redevelopment. The two companies, working in | | | | most resident entries have ceramic tile. Most |
| partnership, bought up Kingswood Apartments | | | | residences include side-by-side refrigerators, built in |
| and Bull Creek Townhomes. Bull Creek | | | | microwave ovens, gourmet island kitchens, |
| Townhomes at 4320 Bull Creek Road is a 140-unit | | | | designer cabinets and countertops, faux hardwood |
| residential community. Kingswood Apartments is a | | | | floors, vaulted ceilings, crown moldings, large |
| 32-unit community situated at 4318 Bull Creek Rd. | | | | closets, ceiling fans, and large utility rooms. |
| The two buildings were purchased in two | | | | Residence units boast Satina Whirlpool appliances, |
| separate deals, apparently as part of a plan to | | | | private patios, linen closets, garden tubs, marble |
| scrape and rebuild. | | | | sink vanities, walk-in closets, multiple cable and |
| The new Alexan City Lights apartment complex, | | | | phone lines, and much more. For truly comfortable |
| a Class-A complex of homes, has been purchased | | | | urban living, Alexan City Lights certainly delivers |
| by Los Angeles-based SCI Real Estate | | | | with lots of space and a great modern style. The |
| Investments LLC. The building was completed only | | | | building is comfortable and modern and has all the |
| last year by Trammell Crow Residential and Opus | | | | amenities needed for a modern family or couple. |
| West Corp. According to Travis County tax | | | | Lease terms for the apartments are a minimum |
| records, the property at 501 East Stassney Lane | | | | of 12 months. This three-story building has central |
| has a value of $33 million. At the time of the deal, | | | | air-conditioning and is conveniently located close to |
| Alexan City Lights was 96% leased. According to | | | | a number of good schools, including Pleasant Hill |
| reports, the sale was brokered by Apartment | | | | Elementary School, Bedichek Middle School, and |
| Realty Advisors. | | | | Crockett High School. Pets are allowed in the |
| Alexan City Lights received a great deal of press | | | | building with no damage deposits or fees. SCI Real |
| last year, when it was built near Congress | | | | Estate Investments LLC certainly brought a |
| Avenue in South Austin. This upscale apartment | | | | building with lots of potential and a good location. |
| development has many amazing amenities, | | | | The low vacancy rate will only help the investors. |
| including remote-controlled limited entry, paved | | | | At this time it is unknown whether any major |
| entrance, a coffee bar, a high-tech fitness center | | | | renovations are planned, but it will certainly be |
| that is open 24 hours, a business in conference | | | | interesting to see what long-term plans SCI Real |
| and center that boasts computers copiers and | | | | Estate Investments LLC has for Alexan City |
| faxes, a resort style pool, a veranda area, a built | | | | Lights. |