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AUSTIN — Steadfast Apartment REIT has acquired two Austin-area apartment complexes in separate transactions. Club at Summer Valley and Terrace Cove are the REIT’s third and fourth acquisitions, bringing its portfolio to 1,047 apartment homes with an aggregate purchase price of $87 million. Club at Summer Valley is a 260-unit apartment complex built in 1983 on nine acres. The community is 98 percent occupied and is comprised of one- and two-bedroom apartments, one-bedroom townhomes and two-bedroom cottages. Apartments range from 563 to 1,229 square feet with average rents of $836. Terrace Cove is a 304-unit complex with one- and two-bedroom floor plans averaging 712 square feet. Built in 1986, the 13-acre complex is 98 percent occupied.