U.S. markets open in 53 minutes

Embrey Partners Announces Finance Closing For Northwest Austin Lakeline Boulevard Property

AUSTIN, Texas, May 18, 2020 /PRNewswire/ -- Financing from Vantage Bank has been secured for construction of 304 multifamily residential units in North Austin that will provide easy access to downtown and nearby retail and job centers, including the newly announced $1 billion Apple campus.

Embrey's Lakeline property brings premium residential options to one of the fastest growing and most desirable areas of the capitol city of Texas. The property is just across Highway 183 from Lakeline Mall, which features a range of choices in retail, dining and grocers.

"In terms of location, design detail and desirable living experience, Lakeline will set the standard for preferred living in North Austin," said Jimmy McCloskey, Executive Vice President, Development. "As a Texas-based company, Embrey is excited to add this premier property to our Austin portfolio."

The property will feature, an elegant clubhouse, a business center, wi-fi in all common areas and private garage parking. Residents will have access to a fitness center with on-demand virtual trainers, a game room, a swimming pool with cabanas, barbecue areas with grills, and a dog park.

"Embrey is nationally known for creating places where people want to be and this community will continue that tradition of excellence," said McCloskey.

Construction is scheduled to begin in June. First occupancy is expected for August 2021 and project completion by November 2022.

About Embrey Partners

San Antonio-based Embrey Partners, Ltd., is a diversified real estate investment company that owns, develops, builds and manages multifamily and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed more than 41,000 apartments and over 6 million square feet of commercial property. Embrey is one of the leading developers in the multifamily sector, with approximately 6,000 units under construction or in development. www.embreydc.com

About Vantage Bank Texas

Vantage Bank Texas is a family-owned, community bank based in San Antonio, Texas.  Founded in 1923, the bank is focused on providing specialized banking services to small and medium-sized businesses, including deposit, lending and treasury management solutions.

 

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/embrey-partners-announces-finance-closing-for-northwest-austin-lakeline-boulevard-property-301061090.html

SOURCE Embrey