HENDRICKS & PARTNERS COMPLETES TWO-PROPERTY MULTIFAMILY SALE

AUSTIN, TEXAS —Hendricks & Partners (H&P) has completed the sale of two Austin apartment communities. The first property, Princeton, is a 90-unit community located at 4411 Airport Blvd. Princeton is situated on approximately 2.75 acres, and it contains an average unit size of 814 square feet. The property was remodeled in 2007. The second property, Stony Creek, is a 132-unit community located at 4911 Manchaca Rd. It comprises two- and three-story, garden-style buildings situated on approximately 5.9 acres. Unit sizes range from 481 to 917 square feet. Ellen Muskin and George Deuillet III of H&P’s Austin office represented the seller, San Antonio Alternative Housing Corporation No. 4. The properties were acquired by Santa Barbara, Calif.-based M3 Multifamily. The acquisition price was not disclosed.