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Investment Details

Acquisition Date
15-Oct-2016

Investment Summary

Acquired in October of 2016, The Chelsea is a 152-unit apartment community centrally located in Austin at 51st Street and Lamar Boulevard just north of the University of Texas. The Chelsea’s “unique, boutique, and chic” style along with  it’s superb location presented an opportunity to stand apart from other apartment communities attracting young professionals who favor style on a single story spacious property over the more pricey  “elevator” alternatives.   The Chelsea (formerly The Parker) suffered from operational inefficiency (e.g. poor management) by previous ownership.  ACA’s property management team has worked diligently to reposition the property to captivate and retain an appreciative a loyal tenant base.   Feel free to visit The Chelsea website here.

http://www.thechelseaaustin.com/

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