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July 5, 2019
Real Estate

Argosy Real Estate Partners Exits Lake Creek Apartments

Argosy Real Estate Partners III, L.P. and its parallel funds (together “AREP III”) sold its interest in Lake Creek Apartments to a regional owner operator. Lake Creek is a 350-unit, 1984-vintage, garden-style property located in the Northwest submarket of Austin.

In December 2016, AREP III acquired Lake Creek Apartments as part of the larger Austin Multifamily Portfolio alongside the Fund’s co-investor and operating partner, InvestRes. Together, the partnership successfully completed an exterior capital improvement program, including upgrades to the property exterior and amenities, and renovation of select unit interiors.