New York Group Buys 350-Unit Villas at Tech Ridge In Pflugerville

PFLUGERVILLE, TX -- A New York-based firm has bought the Villas at Tech Ridge, a 350-unit apartment complex, for an undisclosed amount.

Castle Lanterra Properties LLC of Suffern, N.Y. purchased the property located at 13838. The purchase price was not disclosed.

The Austin Business Journal notes this is the second second acquisition in as many years. The Villas at Tech Ridge was built in 2008.

Officials of the complex describe the property as offering "...a fresh take on luxury apartment living" just 15 minutes from downtown Austin. Its units range from one- to three-bedroom layouts "...meticulously crafted to bring you the perfect combination of modern style with high-tech accents and green-living features throuhout."

According to information found on the apartment complex website, the property is almost full occupancy. There are only 16 units available for lease among the one-bedroom units ranging from 712 square feet to 886 square feet, the website notes.

The demand at the property appears to be for the larger units. The sole available 2-bedroom, 2-bath unit measuring 1,162 square feet won't be available until March 11, according to the website. Similarly, only one of the larger units -- a 1,336-square-foot space with three bedrooms and two baths is soon available March 10.