January 7, 2019
Transwestern Development Co. sold The Arnold, a 346-unit apartment complex at 1621 E. Sixth St. in Austin. Invesco Real Estate acquired the asset, which includes 9,450 square feet of ground-level retail space. The property was 95% occupied at the time of the sale.
TDC began construction on The Arnold in early 2015, and it opened in 2016. The East Side complex offers studio units, as well as one and two-bedroom floor plans. Apartments range from 393 to 1,738 square feet. Amenities include a pool, a wellness center, a lounge with games, televisions and a catering kitchen, and a rooftop terrace.
“Austin’s East Side has gained tremendous traction since we launched this project, attracting creative companies and residents that want an edgier cultural environment than the Central Business District,” said Josh Delk with TDC.
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