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Sale Of Upscale Active Adult Community Near Austin Closes

March 15, 2022

DALLASJLL Capital Markets announced today that it has closed the sale of Northstar Georgetown, a 210-unit, upscale, low-rise active adult community in Georgetown, Texas.

JLL marketed the property on behalf of the seller, Chalk Hill Ventures. A joint venture between Bain Capital Real Estate and Capitol Seniors Housing acquired the property.

Completed in 2021, Northstar Georgetown is an age restricted (55+) community comprising of one- and two-bedroom units averaging 1,016 square feet. Apartment amenities include walk-in showers and soaking tubs, private yards and balconies, private parking and garage spaces, full sized washers and dryers, granite counter tops and stainless steel appliances. The resort style community offers a media center and theatre room, pool and spa, outdoor firepit with seating area, landscaped courtyards and pickleball and bocce ball courts.

Located on 11.51 acres at 2401 Westinghouse Rd., the community is positioned near Interstate 35 and State Highway 130, providing seamless connectivity to downtown Austin and the surrounding area. In addition, Northstar Georgetown is near local retail and entertainment centers, including Round Rock Premium Outlets, Georgetown Square, University Oaks Shopping Center, Inner Space Cavern and Dell Diamond Stadium. Also nearby is the Seton Medical Center, Baylor Scott and White Medical Center and Austin Community College, offering proximity to healthcare, higher education and employment hubs.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Directors Ryan McBride and Joe Dowdle, Director Zach Rigby and Senior Managing Director Sean Sorrell.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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