Connect Media > Texas News > Austin > NKF Lists “Trophy Asset” in East Austin

August 7, 2020 Comments Off on NKF Lists “Trophy Asset” in East Austin Views: 860 Austin, Texas News

NKF Lists “Trophy Asset” in East Austin

Order Reprints...

Offers are due by August 12 on Aura Riverside, a 368-unit apartment complex in East Austin. An NKF team led by vice chairman Patton Jones is marketing the newly built property, currently at 68.5% occupancy.

In a marketing flyer, NKF describes Aura Riverside as a “trophy asset in phenomenal location along the booming East Riverside corridor, minutes from downtown Austin, Lady Bird Lake, and Austin-Bergstrom International Airport.” It’s less than two miles from Oracle’s Waterfront campus, which will employ more than 10,000, and five-and-a-half miles from the future site of Tesla’s $1.1-billion Gigafactory.

NKF also cites an affordability factor. “Renters are being pushed out of the CBD submarket due to $2,500+ per month rental rates; Aura Riverside has a strategic position in the market providing luxury living at roughly $1,700 per month.”

Austin’s East Central submarket has seen 5.9% annual rent growth, compared to 3.5% for Southeast Central, NKF says.

Connect With NKF’s Jones

Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Tags: , ,

Comments are closed.