RE Journals, August 1, 2022
Austin-based Wayfinder Real Estate has completed the sale of Troubadour, a 321-unit apartment community in Central Austin, to an affiliate of Austin-based Christopher Investment Co.
The sales price was not disclosed.
Located one mile north of downtown Austin at 3403 Harmon Ave., Troubadour has experienced unusually strong demand since pre-leasing started in January. When first move-ins began in April, 80 apartments — 25% of the units — were pre-leased. Since then, an average of 14 new residents have signed leases per week.
The community is expected to reach 93% occupancy and fully stabilize by the end of August.
The six-story project is the first community that Wayfinder has completed and sold since industry veterans Mac McElwrath and Chris Sipes founded the company in 2019.
