JPI Closes Sale in Iconic Austin Neighborhood

Newly constructed Class A multifamily community offers urban living in historic part of town

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Dec 21, 2017, 16:44 ET

IRVING, Texas, Dec. 21, 2017 /PRNewswire/ -- JPI, a leader in the development of Class A multifamily housing, today announced the sale of Sur 512, a 362-apartment-home mid-rise building located on Austin's South Congress Avenue. Popular with locals and visitors like, the South Congress neighborhood is a hot spot for developers, as it is host to a number of boutiques, eateries, galleries and music venues.

JPI, a leader in the development of Class A multifamily housing, announced the sale of Sur 512.

"We are extremely proud of Sur 512 and the role it plays in such a dynamic neighborhood," said Matt Brendel, senior vice president and development partner at JPI. "The attention to detail displayed throughout the design, and the higher level of service provided, make this community ideal for Austin residents."

Sur 512, developed and built by JPI in 2016, sits on about 8.91 acres. The luxury property has one-, two- and three-bedroom floor plans with island-style kitchens, glass tile backsplashes and granite countertops. Sur 512 provides residents with top-of-the-line amenities and exceptional service in addition to the convenient location along the city's major thoroughfare. The property's best-in-class amenities include:

Designer kitchen finish-outs
Private balconies
Parklike setting with picnic and grilling areas
Fitness on demand
Bluetooth-enabled locks

About JPI
JPI is a national developer, builder and investment manager of Class A multifamily assets across the U.S. and is the most active multifamily developer in Dallas-Fort Worth, with 3,830 apartment homes under construction. Headquartered in Irving, Texas, JPI also has offices in California, Arizona and New York. With a 30-year history of successful developments throughout major U.S. markets and an unparalleled depth of industry-specific experience, JPI stands among the most active privately held real estate companies in the country. JPI's executive leadership team has an average of 25 years of comprehensive experience in multifamily developments – ranging from low-density garden apartments and mid- to high-density wrap and podium projects to student-living housing projects and mixed-use high-rise developments. The firm offers investment management, pre-development, underwriting, marketing and asset management services as well as construction, financial and administrative services. To learn more about JPI, please visit JPI.com.

SOURCE JPI