AMAC Buys Apartment Community in Austin’s East Riverside Area for $61.9M

AUSTIN, TEXAS — Arbor Management Acquisition Co. (AMAC) has purchased The Mont, a 288-unit apartment community in Austin’s East Riverside neighborhood, for $61.9 million. The newly built property features one- and two-bedroom units averaging 730 and 1,048 square feet, respectively. Residences are furnished with stainless steel appliances, granite countertops, individual washers and dryers and private balconies. Amenities include a pool with a tanning deck, fitness center with a yoga studio, courtyard, business center, game room and a dog park. The seller was not disclosed.