AUSTIN, TEXAS (April 4, 2016) — Austin-based multifamily developer Oden Hughes has closed on the sale of two Class A South Austin communities with a combined 570 apartments to IMT Capital, a private Los Angeles-based real estate investment and management firm.
The sales price of the Landmark Southpark and Lenox Parkview properties was not disclosed.
Oden Hughes developed, built and managed both properties near the southwest corner of South First Street and Slaughter Lane.
The 285-unit Landmark Southpark community opened in 2013. Lenox Parkview, which also has 285 units, opened last year immediately south of Landmark Southpark and north of the 344-acre Mary Moore Searight Metropolitan Park.
Both properties offer luxury one, two and three-bedroom apartments just minutes from I-35 and a short walk from Southpark Meadows, one of the largest retail centers in Central Texas.
“These communities are in high demand because they provide luxury living with convenient access to major employment centers, including downtown, as well as popular retail amenities,” said Steve Oden, principal and co-founder of Oden Hughes.
IMT Capital maintains an office in Austin where it owns several high profile properties including the Riata in Northwest Austin near Apple Inc.’s new Americas Operations Center.
About Oden Hughes LLC
Oden Hughes LLC is an Austin-based multifamily development, construction and property management company that focuses on Class A properties in the Austin, San Antonio, Dallas, Fort Worth and Houston markets. The company also offers value-add investments, design-build services, and general contracting. Founded in 2010, the firm focuses on multifamily development, construction and management in major Texas markets. For more information please visit odenhughesllc.com.
About IMT Capital
IMT Capital, LLC is a private real estate investment firm based in Los Angeles, CA, with offices in San Francisco, CA and Austin, TX. The company’s principals have made investments in excess of $3 billion in value since 1992. The company is a specialized manager concentrating in multifamily opportunities in major U.S. markets. Additional information on IMT Capital can be obtained by going to www.imtcapital.com.
GlobeSt.com, 4/5/16, 'Two Newer Communities Get Flipped'
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