AUSTIN, TX — The Addison, TX office of GE Capital Realty, Inc. has sold Silvervale Crossing – Brookstone, an 840 unit multifamily property located at 8800 – 8900 North Interstate 35 in Austin, TX. The Buyer was FPA Multifamily, LLC, a California limited liability company of San Francisco, CA.
The property includes the 336-unit Silvervale Crossing, built in 1981, and the 504-unit Brookstone, built in 1985. Operated as one site, Silvervale Crossing-Brookstone is currently believed to be the second-largest apartment community in Austin.
The transaction was negotiated by George Deuillet III of the Austin office of Hendricks & Partners and Ellen Muskin of Muskin Commercial, on behalf of the Seller.
The unit mix consists of 200 studio, 456 one-bedroom, and 184 two-bedroom units. The community has over 1,000 feet of frontage on Interstate 35.