NAPLES, Fla.--(BUSINESS WIRE)--Halstatt Real Estate Partners, a real estate private equity firm, today announced its plans to develop a new build-for-rent community, Stillwell at Avery Centre. The community will have 225 units, supported by onsite leasing, a clubhouse, pool, fitness center, and parks. Halstatt Real Estate Partners is partnering with Coastal Ridge Real Estate on this development.
“The confluence of a variety of macroeconomic and demographic factors has contributed to the appeal of build-for-rent housing, and more specifically horizontal apartments, as an alternative single family housing option,” says Steve Iannaccone, principal, Halstatt Real Estate Partners. “Following the groundbreaking of our first two build-for-rent projects in Florida, Halstatt is pleased to announce the development of Stillwell at Avery Centre in Round Rock, Texas. We continue to partner with exceptional development platforms and are excited to have a pipeline of high conviction opportunities in the segment.”
Located in Round Rock, Texas, within the Austin MSA, this build-for-rent community will have 225 homes, comprised of 66 one-bedroom, 108 two-bedroom, 28 two-bedroom two-story, and 23 three-bedroom luxury single-family for rent residences. The one-bedroom units will all be attached duplex-style homes while the two- and three-bedroom units will be detached single-family residences. All residences will have private first floor entryways and private fenced backyards with patios, and will offer flexible parking options including open parking as well as covered and garage parking options.
“Stillwell at Avery Centre is our second of four investments in the build-for-rent space with Halstatt Real Estate Partners,” said Andy Lallathin, co-founder and managing partner, Coastal Ridge Real Estate. “This differentiated offering provides residents with the affordability and convenience of apartment living with all the advantages of a single-family lifestyle.”
The gated community will be equipped with state-of-the-art amenities, including smart home technologies, a 5,000 sq. ft. clubhouse (leasing center, fitness center, kitchen, game/lounge room, work area, and mailroom), resort-style pool with cabanas, parks and dog park, event lawn/outdoor space, food truck area, firepits and gas grills, and Wi-Fi in the common areas.
The property is situated in the 1,200-acre master planned community of Avery Centre, 25-miles north of Austin. Avery Centre is designed to feature a walkable, mixed-use town center, residential neighborhoods, and an extensive park system, all anchored by nearby large institutional uses such as Ascension Seton Medical Center, Texas A&M University Health Science Center, Texas State University, and Austin Community College.
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout Florida, the Southeast and Texas. The company partners with project sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development and investment opportunities.
About Halstatt Real Estate Partners
Halstatt Real Estate Partners (“HREP”), a women-owned real estate private equity firm, has participated in the acquisition and development of over $1 billion in Southeast based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle market, value add and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices and corporate pension funds with a history of continuity. www.halstattrealestate.com.
About Coastal Ridge Real Estate
Headquartered in Columbus, OH with an additional office in California, Florida, and Tennessee, Coastal Ridge Real Estate is a full-service real estate investment and property management firm executing on core, core plus, value add, and ground-up development investment strategies in the multifamily real estate asset class. The firm’s vertically integrated platform includes divisions to oversee investment management, property management, and development. Coastal Ridge’s current portfolio is comprised of 35,000+ conventional apartment units and student housing beds spanning 43 distinct markets, with assets under management totaling over $3.7 billion. Coastal Ridge has been recognized as an Inc. 5000 Fastest-Growing Private Companies in America five times. For more information visit www.coastalridge.com.
About Stillwell
Created by Coastal Ridge, Stillwell is an innovative multifamily housing concept within the build-for-rent sector. This innovative product known as a Horizontal Apartment or Cottage Community consists of free-standing one- and two-story single family residential units with private yards, utilizing shared parking similar to a typical garden apartment layout, and featuring programmed amenities. This product offers a new option for residential living, providing the privacy of a single-family home, and the amenities, professional management, and ease of living of a traditional apartment community. For more information visit www.livestillwell.com.
