JLL Capital Markets announced it has arranged the refinancing for The Albright, a brand-new 261-unit luxury apartment community in Austin, Texas.
JLL represented the borrower, ParkProperty Capital, to secure a floating-rate loan through ACRE.
The Albright represents one of Austin’s newest and highest-quality apartment communities, having been delivered in 2024. The five-story mid-rise property features 261 meticulously designed units with an average size of 876 square feet, comprising studios, one-bedroom, two-bedroom and three-bedroom layouts. Units showcase premium finishes including granite countertops, designer ceramic tile backsplash, stainless steel appliances, wood-style plank flooring, nine-foot ceilings, smart locks and light switches and walk-in closets.
Located at 8528 Burnet Road in Austin’s rapidly growing North Central submarket, the property provides residents with unparalleled connectivity to Austin’s major economic and entertainment hubs. The property sits at the convergence of multiple major thoroughfares, with MoPac Expressway just three minutes away, US-290 seven minutes away, I-35 eight minutes away and US-183 three minutes away. This strategic positioning places residents within easy reach of downtown Austin, the University of Texas campus and the Texas State Capitol, all located six to seven miles south.
The property benefits from its proximity to The Domain, Austin’s premier mixed-use development located just two miles away. Often referred to as Austin’s second downtown, The Domain encompasses 1.8 million square feet of high-end retail space and serves as a major employment center housing corporate offices for technology giants, including Meta, Indeed, Amazon, Expedia, IBM and Charles Schwab.
The JLL Capital Markets team was led by Elliott Throne, Josh Odessky and Jayme Nelson.
“The Albright represents an exceptional opportunity in one of Austin’s most desirable corridors,” said 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 is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
