Austin Texas

JLL Arranges Refinancing for Newly Completed The Albright Apartments in austin, Texas

JLL Capital Markets has secured refinancing for The Albright, a newly constructed 261-unit luxury apartment community located in Austin, Texas. The deal was finalized on behalf of borrower Parkproperty Capital, with a floating-rate loan provided by ACRE.

Delivered in 2024, The Albright is a five-story mid-rise property situated at 8528 Burnet Road in North Central Austin. The apartments offer a mix of studio, one-, two-, and three-bedroom layouts, averaging 876 square feet. Unit features include granite countertops, ceramic tile backsplash, stainless steel appliances, wood-style plank flooring, nine-foot ceilings, smart home technology (locks and lighting), and walk-in closets.

The property boasts a comprehensive suite of resort-style amenities, including a resort-style pool, a 24-hour fitness center, co-working spaces, a gaming area with a pool table, a rooftop sky deck offering views of Austin, an outdoor entertainment area with a grill and kitchen, an enclosed pet park with a wash station, a bike room, package room, and a parking garage.

Its location provides convenient access to major Austin destinations.the Albright is strategically positioned near several key thoroughfares – MoPac Expressway (3 minutes), US-290 (7 minutes), I-35 (8 minutes), and US-183 (3 minutes) – placing residents within 6-7 miles of downtown Austin, the University of Texas campus, and the Texas State Capitol.

The property also benefits from its proximity to The Domain, a 1.8 million square foot mixed-use development and major employment hub housing offices for companies like Meta, Indeed, Amazon, Expedia, IBM, and Charles Schwab, located just two miles away.

The JLL Capital Markets team responsible for the transaction was led by Elliott Throne, Josh Odessky, and Jayme Nelson.

“The Albright represents an remarkable chance in one of Austin’s most desirable corridors,” stated Nelson. “This institutional-quality asset offers unparalleled access to The Domain and Austin’s major employment centers, combined with resort-style amenities that set it apart in the market.”

Odessky added, “We are pleased to have executed on behalf of ParkProperty Capital, whose proven track record enabled us to secure highly competitive financing terms with ACRE during this critical lease-up phase.”

JLL Capital Markets provides comprehensive capital solutions for real estate investors and occupiers globally, offering services including investment sales, debt advisory, equity advisory, and recapitalization. The firm operates with over 3,000 Capital Markets specialists across nearly 50 countries.