December 18, 2017
Newly Built Multifamily Asset in Austin Sold by IPA
AUSTIN, Texas, Dec. 18, 2017 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) announces the sale of Southpark Crossing, a newly constructed 308-unit multifamily asset in Austin, Texas.
“Southpark Crossing is a three-story, garden-style walk-up apartment complex with a Mediterranean look and feel accentuated by clay tile roofing,” says Will Balthrope, executive director. “Part of the value proposition that we articulated for the property is its potential to generate revenue growth within a submarket that is experiencing a significant amount of new multifamily construction.”
Balthrope, Drew Kile, senior director, and Jordan Featherston, associate, represented the seller and procured the buyer.
“The South Austin submarket where Southpark Crossing is located continues to outperform the rest of the Austin metro with a vacancy rate of 4.8 percent, compared to an overall average rate of 5.9 percent,” notes Featherston.
Seven miles from downtown Austin, the property is located off Interstate 35, adjacent to the Southpark Meadows shopping and entertainment center and close to the Austin-Bergstrom International Airport. Major Austin employers include Dell, IBM, Samsung, Seton Healthcare, the University of Texas at Austin, Accenture, and Amazon.
Built in 2017, Southpark Crossing features a 24-hour fitness center, movie theater, and resort-style pool.
September 5, 2017
Hurricane Harvey Relief Efforts
We are proud of the Journeyman team for donating time and effort for the Harvey Relief Effort by donating money and preparing over 100 essential items welcome bags
August 4, 2017
Hotel Indigo Sale
HFF closes sale of dual-branded downtown Austin hotel
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that Journeyman Group has closed the sale of the Hotel Indigo Austin Downtown – University and Holiday Inn Express Austin Downtown University, a 305-room, dual-branded hotel located in downtown Austin, Texas.
Completed in 2016, the hotel comprises the 134-room, full-service Hotel Indigo Austin and the 171-room, select-service Holiday Inn Express. Shared amenities include a large outdoor pool, pool bar and lounge and five levels of underground parking. Hotel Indigo houses the Red River Tavern, 2,830 square feet of meeting space, with the Holiday Inn Express featuring a fitness center, business center, a 310-square-foot meeting room and complimentary breakfast. Situated on .81 acres at 805 Neches Street and 810 Red River Street, the hotel is in Austin’s Red River Cultural district at the corner of Red River and 9th Streets. The hotel is within five blocks of the University of Texas at Austin, Texas State Capital, Medical district, 6th Street Entertainment district and the Austin Convention Center.
February 24, 2017
Journeyman Group Announces Ross Hamilton, Vice-President – Development
Journeyman Group announced the promotion of Ross Hamilton, from Project Manager to Vice President-Development. Ross has been with the firm since 2014 and has over nine years of experience in commercial construction and development. Current projects under his direction are Austin’s Downtown Hyatt House Extended Stay, the Hyatt Place at ABIA, and the South Park Crossing Apartments. Ross also currently manages the newly opened Hotel Indigo and Holiday Inn Express hotels located in downtown Austin on behalf of the Journeyman Group.
Founded in 2000, Journeyman Group is an Austin-based commercial development and construction firm. The company offers a wide range of services including but not limited to multi-family and hospitality projects. For more information: www.journeymanco.com or www.journeymangroup.com
For more information, press only:
Tiffany Fincher, Executive Assistant, Ph. 512-247-7000, email: firstname.lastname@example.org
August 24, 2016
Hyatt House Top Out
Downtown Austin 901 Neches Street