Landmark Properties Acquires Pointe on Rio in Austin, Texas

ATHENS, Ga., May 1, 2024 /PRNewswire/ -- Landmark Properties, a fully-integrated real estate firm specializing in development, construction, investment management, and operation of high-quality residential communities, has acquired Pointe on Rio in Austin, Texas. Pointe on Rio, soon to be rebranded as Tradition on Rio, is Landmark's seventh asset in the Austin market; the acquisition adds 321 beds and 122 units to the company's portfolio.

Built in 2014, this mid-rise community at 1901 Rio Grande Street boasts a nearly 94% preleasing rate for the Fall 2024 term and is a popular choice for students attending the University of Texas at Austin who are looking to live close to campus. Its diverse range of apartment layouts, spanning from studio to five-bedroom floorplans, features upscale amenities including hardwood floors, stainless steel appliances, and in-unit washer/dryers.

"We're excited to add Pointe on Rio to the Landmark portfolio, a well-performing asset in one of the most institutionally sought-after student housing markets in the country," said JD Goering, Landmark's Senior Vice President of Acquisitions. "University of Texas at Austin's Fall 2023 enrollment marked the university's largest-ever, a 1.3% growth year over year."

Pointe on Rio presents students with a number of sought-after amenities, such as a courtyard pool, resident lounge with gaming area, pool table and TVs, on-site parking, fitness center, conference/study room, and numerous resident events throughout the year. The property is close to the UT Austin West Campus bus stop, nearby shops and restaurants.

Landmark's significant presence in Austin is bolstered by a portfolio totaling 3,769 beds across renowned communities including Legacy on Rio, The Mark Austin, The Standard at Austin, The Nine at Rio, The Nine at West Campus, and Moontower. Notably, all of these properties are showing strong preleasing for the 2024-25 school year.

About Landmark Properties

Headquartered in Athens, Ga., with an office in Atlanta, Landmark Properties is a fully integrated real estate firm, specializing in the acquisition, development, and management of high-quality residential communities. With $13 billion in AUM, Landmark's portfolio includes over 115 residential communities across the country with 71,000 beds under management. Additionally, Landmark benefits from an active development pipeline with 22 student and multifamily projects under construction or near term start with an estimated value of nearly $5 billion. Landmark's mission is to be the leader in development, construction, operations, and investment management of high-quality residential communities, delivering unrivaled service and experience to our residents, partners, and employees. For more information, visit www.landmarkproperties.com.

Media Contacts:
Landmark Properties/Landmark Construction
Great Ink Communications ? (212) 741-2977
Lindsay Church, Sara Williams, Eric Gerard
[email protected]

SOURCE Landmark Properties