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Multifamily Development in Texas Capital Sells Despite Tough Sales Market

Sherman Residential Buys 292-Unit Water Oak in South Austin From Local Development Firm
Water Oak, a 292-unit apartment complex in Austin, Texas, was sold to Chicago-based Sherman Residential. (CoStar)
Water Oak, a 292-unit apartment complex in Austin, Texas, was sold to Chicago-based Sherman Residential. (CoStar)
CoStar News
December 15, 2023 | 10:35 P.M.

A relatively new apartment development in Austin, Texas, has changed hands amid a tough multifamily sales market where transaction volume has slowed.

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