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  • UNITSAustin MSA

    Multifamily ReportQ4 2016

    TRANSWESTERN AUSTIN | SAN ANTONIO MULTIFAMILY CAPITAL MARKETS GROUP

  • UNITS | AUSTIN | 4Q 2016

    QUARTERTOTAL

    INVENTORYUNDER

    CONSTRUCTIONNEW

    DELIVERIES ABSORPTION OCCUPANCYRENTAL RATE

    / SFRENTAL RATE

    / UNITUNEMPLOYMENT

    RATEJOB

    GROWTH

    4Q 2016 206,239 20,235 2,897 -290 92.2% $1.40 $1,197 3.2% 1.0%

    3Q 2016 201,386 20,897 3,652 1,870 93.7% $1.41 $1,207 3.5% -0.8%

    2Q 2016 201,018 21,114 2,435 2,903 93.8% $1.39 $1,186 3.3% 1.8%

    1Q 2016 196,917 21,383 2,788 1,833 94.1% $1.36 $1,167 3.1% 2.0%

    AUSTIN MARKET AT A GLANCE

    AUSTIN MULTIFAMILY MARKET INDICATORS ROLLING 12-MONTH SUMMARY

    RENTAL RATES

    $1.40 psf4Q rental rates dropped -0.8%

    from last quarter with an annual gain of 4.5%

    OCCUPANCY

    92.2 %

    ABSORPTION

    -290 units

    SALES VOLUME

    31 projects sold

    DEVELOPMENT

    20,235 units

    JOB GROWTH

    10,400 jobs4Q occupancy is down -1.5% from last quarter and down -2.0% for

    the year

    Negative absorption of

    -290 units for the quarter, and T12

    absorption totaled 6,316 units

    31 projects totaling 7,951

    units traded in 4Q for an average

    price of $149,686 per unit

    In 4Q, 79 projects totaling 20,235

    units were under construction

    and 12 projects totaling 2,897 units delivered

    10,,400 jobs were added during 4Q, reflecting 1.0% job

    growth over the prior quarter

  • UNITS | AUSTIN | 4Q 2016

    TOTAL SALES VOLUME

    4Q 2016 T12

    Properties Traded 31 102

    Total No. Units 7,951 24,497

    Average Unit Size 913 885

    Average Price / Unit $149,686 $147,407

    Average Price / SF $163 $171

    SALES

    $0.60

    $0.80

    $1.00

    $1.20

    $1.40

    $1.60

    $1.80

    04 05 06 07 08 09 10 11 12 13 14 15 16

    80.0%

    85.0%

    90.0%

    95.0%

    100.0%

    04 05 06 07 08 09 10 11 12 13 14 15 16

    0

    2,000

    4,000

    6,000

    8,000

    10,000

    12,000

    04 05 06 07 08 09 10 11 12 13 14 15 16

    UNITS ABSORBEDUNITS ADDED

    ABSORPTION YEAR ENDING 4Q

    OCCUPANCY YEAR ENDING 4Q

    OCCUPANCY

    AVG RENT PER SF

    RENTAL RATES YEAR ENDING 4Q

    DEVELOPED 2010+

    4Q 2016 T12

    Properties Traded 11 31

    Total No. Units 2,919 8,823

    Average Unit Size 930 905

    Average Price / Unit $192,263 $190,395

    Average Price / SF $214 $226

    DEVELOPED 2000-2009

    4Q 2016 T12

    Properties Traded 7 22

    Total No. Units 2,470 7,083

    Average Unit Size 990 956

    Average Price / Unit $133,086 $134,464

    Average Price / SF $134 $142

    DEVELOPED 1990-1999

    4Q 2016 T12

    Properties Traded 2 8

    Total No. Units 754 2,546

    Average Unit Size 1,059 946

    Average Price / Unit $162,072 $147,196

    Average Price / SF $153 $157

    DEVELOPED 1980-1989

    4Q 2016 T12

    Properties Traded 7 19

    Total No. Units 1,423 3,276

    Average Unit Size 721 722

    Average Price / Unit $88,365 $89,531

    Average Price / SF $122 $125

    DEVELOPED 1979 AND PRIOR

    4Q 2016 T12

    Properties Traded 4 22

    Total No. Units 385 2,769

    Average Unit Size 710 775

    Average Price / Unit $117,794 $95,738

    Average Price / SF $169 $124

    UNITS | AUSTIN | 4Q 2016

  • UNITS | AUSTIN | 4Q 2016

    TOP 5 TRANSACTIONS BY SALES PRICE (T12)

    BUYER

    Catherine (The) Christopher Commercial

    Hanover South Lamar GID Investment Advisors

    Cielo Bell Partners

    University Estates Presidium Group

    Berkshire SoCo Sendera Investment Group

    TOP 5 TRANSACTIONS BY NO. OF UNITS (T12)

    UNITS

    University Estates 498

    Riverlodge 498

    Preserve at Rolling Oaks 494

    Scofield Park at Austin 486

    Alara Canyon Creek 444

    TOP 5 BUYERS BY NO. OF UNITS (T12)

    UNITS (PROJECTS)

    Castle Lanterra Properties 1,175 (4)

    CWS Capital Partners 1,097 (3)

    The Connor Group 1,070 (3)

    Bell Partners 1,003 (3)

    Starlight Investments 938 (3)

    TOP 5 SELLERS BY NO. OF UNITS (T12)

    UNITS (PROJECTS)

    FPA Multifamily 1,132 (3)

    Berkshire Group 869 (2)

    Investcorp 846 (2)

    Blackstone 772 (2)

    Alliance Residential 706 (2)

    TOP 5 LENDERS BY NO. OF UNITS (T12)

    UNITS (PROJECTS)

    Fannie Mae (New Origination) 6,869 (31)

    Freddie Mac (New Origination) 3,441 (18)

    Freddie Mac (Assumption) 1,885 (5)

    Fannie Mae (Assumption) 1,754 (7)

    Cash 1,123 (4)

  • UNITS | AUSTIN | 4Q 2016

    SALES :: DEVELOPED 2010+

    APARTMENT ADDRESS SUBMARKET UNITS AVGSF YOCSALE DATE SELLER BUYER LENDER

    4Q.16Promesa 9415 McNeil Drive Northwest 298 928 2012 Dec-16 Heitman Capital Management John Long & Richard Cole Fannie Mae

    Rise on 8th 805 Nueces StreetCentral Business

    District200 1,066 2016 Dec-16 Aspen Heights 54 Madison Partners

    Guggenheim Partners Investment Management

    Hanover South Lamar 809 Lamar Boulevard South South Central 340 875 2014 Dec-16 Hanover Company GID Investment Advisors Cash SaleLegacy at Southpark 8800 1st Street South South 250 905 2015 Dec-16 Realtex Development Corporation Bluerock Real Estate Fannie MaeBurnet Market Place 6701 Burnet Road North Central 343 747 2015 Dec-16 Argyle Residential CWS Capital Partners Freddie Mac

    Monterra 13401 Legendary Drive Northwest 256 884 2013 Dec-16 Starlight Investments Timbercreek Asset ManagementCanadian Imperial Bank

    of Commerce (CIBC)Aria Steiner Ranch 4800 Steiner Ranch Boulevard West 302 1,080 2015 Nov-16 The NRP Group Bell Partners Freddie MacWest Koenig Flats 5608 Avenue F Central 210 811 2015 Nov-16 Stillwater Capital Eaton Vance Investment Managers Cash SaleBelterra Springs 271 Trinity Hills Drive Hays 152 1,033 2015 Oct-16 JCI Residential GSSW Real Estate Investments Fannie Mae

    Capstone Cottages of San Marcos 1415 Craddock Avenue San Marcos 194 2013 Oct-16 Capstone Companies Mapletree Investments Pte Ltd

    3Q.16Highline 13201 Legendary Drive Northwest 256 890 2015 Sep-16 Epoch Properties SPI Holdings Fannie MaeLakeline West 2801 Lakeline Boulevard South Cedar Park / Leander 344 889 2014 Sep-16 North American Properties Weinstein Properties Fannie MaeAbacus Southside 304 William Cannon Drive East South 140 941 2014 Aug-16 Heiser Development Corporation F&B Capital KeyBankBroadstone Arboretum 10011 Stonelake Boulevard Northwest 330 809 2014 Aug-16 Alliance Residential B & M Management Company Fannie MaeCielo 2717 Lamar Boulevard South South Central 357 0 2014 Jul-16 Argyle Residential Bell Partners Fannie Mae

    2Q.16Villas at Spring Trails 901 New Meister Lane Northeast 270 937 2013 Jun-16 CESM Real Estate KC Venture Group Fannie MaeEstates at Bee Cave 3544 Ranch Road 620 South West 316 965 2013 Jun-16 Embrey Partners Internacional Realty Cash SaleOrion Stone Hill 1225 Town Center Drive Northeast 370 999 2013 Jun-16 Blackstone Centennial Holding Company AIG InvestmentsCielo 3501 Ranch Road 620 South West 326 1,002 2013 Jun-16 TDI Real Estate Holdings Starlight Investments Capital OneMadrone 3499 Ranch Road 620 South West 228 995 2015 Jun-16 TDI Real Estate Holdings Starlight Investments Capital OneBroadstone 8 One Hundred 8100 Anderson Mill Road Northwest 376 807 2014 May-16 Alliance Residential Jackson Square Properties Fannie Mae

    Catherine (The) 214 Barton Springs Road South Central 300 899 2013 Apr-16 StreetLights Residential Christopher CommercialPrudential Insurance

    CompanyEleven 811 11th Street East East Central 257 793 2013 Apr-16 Forestar Group GID Cash Sale

    Carrington Oaks 1278 Cabelas Drive Hays 303 875 2014 Apr-16 JCI Residential Sherman ResidentialJackson National Life

    Insurance Company

    1Q.16Sabina 3400 Harmon Avenue Campus 298 832 2013 Mar-16 Argyle Residential B & M Management Company Fannie MaeLandmark Southpark 715 Slaughter Lane West South 285 857 2014 Mar-16 Oden Hughes IMT Capital Freddie MacLenox Parkview 9400 1st Street South South 285 756 2016 Mar-16 Oden Hughes IMT Capital Freddie MacPark at Lakeline 2800 Lakeline Boulevard South Cedar Park / Leander 352 785 2014 Mar-16 GenCap Partners CWS Capital Partners TIAAAxis West Campus 2505 Longview Street Campus 167 1,127 2012 Feb-16 Catalyst Development Partners RREEF Freddie MacEscape at Four Points 11210 Ranch Road 2222 Northwest 344 940 2013 Feb-16 Embrey Partners Bell Partners Fannie Mae

  • UNITS | AUSTIN | 4Q 2016

    SALES :: DEVELOPED 2000-2009

    APARTMENT ADDRESS SUBMARKET UNITS AVGSF YOCSALE DATE SELLER BUYER LENDER

    4Q.16Mandalay 12443 Tech Ridge Boulevard Northeast 300 826 2001 Dec-16 RAIT Financial Trust Ramon and Emma Quezada Fannie MaePreserve at Rolling Oaks 15450 FM 1325 North 494 931 2001 Nov-16 Berkshire Group Cortland Partners JP Morgan ChaseDeerfield 8700 Brodie Lane Southwest 324 945 2000 Nov-16 Falcon Southwest Bluerock Real Estate Fannie Mae

    City North at Sunrise Ranch 2800 Sunrise Road Round Rock 384 949 2007 Oct-16 McShane Development Company Starlight InvestmentsCanadian Imperial Bank

    of Commerce (CIBC)Townlake at Austin 1109 Pleasant Valley Road South Southeast Central 218 954 2003 Oct-16 Texas Student Housing Authority Nimes Capital Amegy Bank

    3Q.16Rio West 2704 Rio Grande Street Campus 76 1,520 2006 Sep-16 NorthStar Realty Finance Columbus Nova MB KeyBankRemington Hills 10601 Manchaca Road South 208 798 2008 Sep-16 McCann Realty Partners Greg Pousson Fannie MaeBerkshire SoCo 3801 Congress Avenue South South Central 375 782 2006 Aug-16 Berkshire Group Sendera Investment Group Fannie MaeAlexan Vistas 7201 Ranch Road 2222 Northwest 334 1,032 2008 Aug-16 Trammell Crow Residential The Connor Group Freddie MacBroadstone Grand Avenue 17

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