KELLER, TX - Amstar announced the sale of Arthouse, a Class A 187-unit mixed-use apartment property with 26,500 square-feet of ground floor retail located in Keller, Texas. The buyer and sale price were not disclosed. Ryan Reid of CBRE represented the seller in this transaction.
Amstar, in partnership with Southern Land Company, completed construction of the five-story property in 2008. Today, Arthouse is 100% leased and commands the highest rents in the market.
Residents are drawn to Arthouse because of the high quality unit finishes, state of the art community amenities, and convenient access to retail including a Tom Thumb grocery store, Starbucks, Chik-Fil-A, fine restaurants, bike shops, and much more.
On site, residents are able to enjoy a resort-style saltwater pool and spa, fire pit, outdoor kitchen, fitness center, and billiards room, in addition to 11 retail tenants promoting the active lifestyle in Keller. Ranked as the 7th best place to live in Texas for young families, Keller will continue to attract new residents who can call Arthouse home.
“The completion and sale of Arthouse is a good example of Amstar’s multifamily development strategy and patient investment philosophy. We developed a highly coveted Class A property, stabilized it through a proactive marketing and leasing campaign and sold it at a time when an abundance of capital was targeting the Dallas Fort-Worth property market,” said Amstar Vice President Bobby Ghiselli.
Source: Amstar / #Apartments #Multifamily