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News release

Austin, TX

Institutional investor buys Austin luxury residential community

JLL completes sale of 246-unit Tacara Steiner Ranch in Austin to TH Real Estate


AUSTIN, Texas, July 9, 2018 – JLL's Capital Markets experts completed the sale of Tacara Steiner Ranch, a newly constructed, 246-unit luxury apartment community within the 4,600-acre Steiner Ranch master-planned development in Northwest Austin, Texas. TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), was the Buyer.  TH Real Estate is one of the largest real estate managers in the world.

Managing Director Scott LaMontagne led the JLL team handling the sale on behalf of the community's developer, San Antonio-based Casey Development, Ltd.

"The Tacara Steiner community is a high-quality luxury residential development deserving of institutional ownership," said Scott LaMontagne. "It has superior amenities, is situated close to many of Austin's top employers and offers residents stunning views of Lake Travis." 

Completed in 2017, Tacara Steiner offers one-, two- and three-bedroom floorplans and has an average unit size of 959 square feet. It is currently 98 percent leased. Community amenities include a resident Country Club, an infinity pool, private cabanas, fitness and massage studios, media and game rooms, a dog park with dog washing facilities, and yoga and Zen spaces. Residents even have access to a private chef for events and parties.

Individual units have private patios, high ceilings, deep soaking tubs and high-end kitchen finishes with Energy Star appliances. Some units have attached garages, private and fenced backyards, electric vehicle charging stations and views of the lake and canyon.

JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. The division employs over 200 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation's largest affordable and conventional multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

For more, 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.


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.