The Chloe Leander
276 Unit Multifamily | Leander TX (Austin MSA)
08.23
Acquisition Date
276
Multifamily Units
892
Avg SqFt.
5 Years
Target Hold Period
OUR PORTFOLIO
Recent Acquisitions
Description
The Chloe Leander, completed in 2023, stands as a pinnacle of luxury living in Leander, Texas. This 276-unit apartment community, strategically located in the heart of Leander, offers residents unparalleled convenience with easy access to local attractions, dining establishments, shopping centers, and recreational spots. Closely affiliated with The Chloe Kyle, The Chloe Leander exemplifies refined taste and sophistication. Boasting Studio, One-, Two-, and Three-Bedroom Apartment Homes, this community caters to a diverse range of lifestyles, making it an ideal choice for individuals and families alike. The Chloe Leander prides itself on setting a standard of excellence for both current and future residents. The resort-inspired swimming pool provides a luxurious escape for relaxation and recreation. The cutting-edge fitness center, open 24/7, ensures that residents can maintain an active and healthy lifestyle at their convenience. Recognizing the evolving work landscape, co-working lounges are thoughtfully designed to cater to the needs of the rapidly growing hybrid work environment, providing residents with flexible and collaborative spaces.
Location
348 Main St
Leander, TX 78641
Opportunity + Execution
Execution: Class-A Core Multifamily | Deal Source: Off-Market
- Leveraging our local market knowledge and relationship with the merchant builder with a develop-and-sell business strategy, The Chloe Leander’s proximity to Austin, one of the fastest-growing cities in the United States, contributes to its appeal. Austin’s dynamic job market and cultural attractions make Leander an attractive suburban option.
- The Chloe Leander adds an interesting dynamic to the path of growth, located in an area of low rent-to-income ratio, access to multiple employment hubs and highly skilled / educated employees, is a short distance to walkable retail at Northline Leander and Leander Springs, as well as being in a top-rated school district (Leander ISD).
- Austin has rapidly transformed into an innovation hub, with its overall VC funding surging 3.5x since 2017. Major employers such as Tesla, Samsung, Meta, Oracle, Indeed, Apple, Google, and Amazon have contributed to this growth. Additionally, the easily accessible transit into Austin from across the street, named Capital Metro’s Leander Station, further enhances the city’s connectivity.
- This Class-A Core Multifamily community is a fresh addition to the portfolio and continues to enhance our dedication and focus on dislocated A-class product along the I-35 corridor that links Dallas, Austin, and San Antonio.
- We plan to be heavily hands-on with the existing management company to ensure the elevation of leasing operations and close the gap between in-place rents and comparable Class A assets through the remaining lease-up period and beyond.