JLL Capital Markets recently finalized the sale of 3Waller, a newly constructed mid-rise multi-housing community in downtown Austin, Texas. This 259-micro-unit property, featuring studio, one- and two-bedroom units, offers residents a premium urban lifestyle with modern amenities and a strategic location.
The transaction, managed by JLL on behalf of the seller, Transwestern, saw the property acquired by Placemakr, marking a significant investment move in Austin’s vibrant real estate market.
3Waller, built in 2022, boasts meticulously designed micro-units averaging 467 square feet. These units come equipped with stainless steel appliances, ample cabinet space, designer color schemes, granite countertops, and vinyl plank flooring, ensuring both functionality and style for residents. Community amenities include a resort-style pool courtyard, a Skydeck with panoramic downtown views, a convenient dog wash station, and more.
Strategically positioned at 710 E. 3rd Street in downtown Austin, 3Waller offers exceptional walkability to key areas such as Rainey Street, East Austin, and the heart of downtown. Its proximity to major employers like Facebook/Meta, Google, Oracle, Indeed, and the Texas State Capitol, as well as popular entertainment spots, grocery stores, and dining venues, enhances its appeal as a prime urban living destination.
Residents also benefit from easy access to Austin’s active light rail system, facilitating seamless commutes across greater Austin, including The Domain shopping district and Q2 Stadium.
Moreover, the property’s location near the Austin Convention Center underscores its connectivity and exposure to significant events, including the globally renowned South by Southwest (SXSW) conference/festival. The ongoing development projects in the area, such as the Waller Creek revitalization and the potential $1 billion convention center reconstruction, further enhance the long-term value and appeal of 3Waller.
The transaction was managed by the JLL Capital Markets Investment Sales and Advisory team, led by Managing Director Ryan McBride, Senior Managing Director Robert Arzola, Senior Managing Director Robert Wooten, and supported by Associates Alex Fernandes and Nick Beardslee.
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By Proptechbuzz
By Ravi Kumar
