Cushman & Wakefield Hold Austin Area Apartment Sale

Thayer Point. Image courtesy of Cushman & Wakefield

Killeen MFD LLC has sold Thayer Point, an apartment community in Killeen, Texas, located directly north of Austin. John Carr and Ben Fuller of Cushman & Wakefield represented the seller in the transaction.

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Located at 5002 Thayer Drive, the 266-unit property was framed on 18.6 acres of land in two phases in 2019 and 2021. The community consists of 18 two- and three-story buildings and was 100 percent occupied at the time. to sell.

A mix of one and two bedroom apartments ranging in size from 650 to 966 square feet makes up the Thayer Point unit mix. Residences features and finishes include above-standard ceiling heights, double-glazed windows, individual air conditioning, microwaves, and built-in washers and dryers. Common facilities include a business center.

Limited pipeline

“Part of the rental list was military and the asset is located in a secondary market primarily driven by Fort Hood,” Fuller said. Multi-dwelling news. “Thayer Point was recently built with Class A finishes in a market with a limited pipeline. The Cushman & Wakefield team made sure buyers understood that this meant Thayer Point would be the go-to Class A option for all potential (residents), military or conventional, in a market with significant disposable income. .

The community is located near Interstate 14, providing easy access around the Killeen area. Three shopping malls are located within 2 miles of the community. Parks and leisure facilities within a 15-minute drive include the Mayborn Planetarium & Space Theater, Conder Park and the Killeen Athletic Complex. Fort Hood is 13 miles and 37 minutes’ drive from Thayer Point.

“Cushman & Wakefield has targeted buyers looking for extra yield outside of major Texas metropolitan markets,” he added, “as well as operators already in the Killeen market who have traded with debt and equity partners familiar with the military “.

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