An entity of Jevan Capital PLLC purchases a 132-unit, residential community in Austin market

February 21, 2014

1236 Mearns Communities LP, an entity of Jevan Capital PLLC (Jason Buxbaum: 602-888-0800, jasonb@jevancapital.com) has purchased Quail Run, a 132-unit, Class B community located at 1200 Mearns Meadow Boulevard in the Northern submarket (496S), from AHC Quail Run LP, an entity of AH Property Management (Paul Forbes: 713-808-1234, pforbes@allenharrisonco.com). The 29-year-old property is 97% occupied with average rents at $1.21 per square foot. The community features one-, and two -bedroom ranging in size from 396 square feet to 875 square feet; average rents range from $0.99 to $1.48 per square foot. The garden style community is located on 3.92 acres. Property amenities include 24hr emergency maintenance, hot tub/spa/jacuzzi, access gates, swimming pools, handicapped modified and club house. Unit amenities include, outside storage, pantry, frost free, walk-in closets, patio/balcony, self-clean ovens, dishwasher, and disposal. Pets are allowed at the community with limit of two. The deposit for the pet is $43 -$243 with a fee of $250.

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