ARA BROKERS SALE OF 90-UNIT AUSTIN APARTMENT COMPLEX

AUSTIN, TEXAS — Full-service real estate firm ARA has brokered the sale of Wilshire West, a 90-unit apartment community in Austin. Originally constructed in 1963, the garden-style property consists of 12 two-story buildings and offers one- and two-bedroom layouts. Amenities include landscaped courtyards, a swimming pool and two barbecue areas. Located at 4411 Airport Blvd., the complex is in proximity to major area employers Dell’s Children Medical Center, Seton Hospital headquarters and the University of Texas research campus. Andrew Shih and Matt Pohl of ARA represented the seller in the transaction, Santa Barbara, Calif.-based M3 Multifamily. West Hollywood-based Reliance Capital Management purchased the property, which was 95 percent occupied at the time of the sale, as part of a 1031 tax-deferred exchange.