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News release

Austin, Texas

JLL Sells Austin’s Defining Ultra-Luxury Multifamily Asset

JLL completes sale of The Catherine in Austin


Booming tech and medical industries continue to drive growth across the multifamily sector in Austin, Texas, and with that growth comes the unveiling of the market’s newest asset, on par with top properties nationwide. On behalf of StreetLights Residential and Hunt Properties, JLL’s Capital Markets experts today announced the firm completed the sale of The Catherine. Catherine Tower, LLC, an affiliate of Austin-based Christopher Investment Company, purchased the 300-unit ultra-luxury apartment building located in Austin’s SoCo submarket.

 

Managing Directors Jeff Price and Scott LaMontagne led the JLL team on the deal.​


“More often we are seeing very high-end amenities and skyline views as the main selling points for investors,” said Price. “The Catherine is the only High Rise south of Town Lake - a true game-changer in Austin - and provides the highest quality amenities seen in multifamily properties across the country.”

 

Added LaMontagne, “With the tech and medical industry continuing to draw an affluent population into Austin’s Central Business District (CBD), demand for luxury multifamily units continues to grow and The Catherine stands out as an iconic asset.”


Completed in 2015, units at The Catherine feature 10-foot ceilings, stainless steel kitchen appliances, stone counter tops with gourmet kitchen islands, Sonos wireless HiFi system installed in units, and in-unit washers and dryers. Community amenities include an infinity pool, a state-of-the-art fitness center, and a 19th story resident Sky Lounge with a full-service bar and panoramic views of Austin’s skyline.

 

Located just south of Lady Bird Lake, The Catherine’s residents have access to the SoCo and Downtown neighborhoods, which are home to some of the city’s top dining and nightlife destinations. The Catherine also allows access to Zilker Park, one of Austin’s finest parks and home to the Austin City Limits music festival.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

 

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

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About JLL

 

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​