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UNITSAustin MSA

Multifamily ReportQ4 2016

TRANSWESTERN AUSTIN | SAN ANTONIO MULTIFAMILY CAPITAL MARKETS GROUP

UNITS | AUSTIN | 4Q 2016

QUARTERTOTAL

INVENTORYUNDER

CONSTRUCTIONNEW

DELIVERIES ABSORPTION OCCUPANCYRENTAL RATE

/ SFRENTAL RATE

/ UNITUNEMPLOYMENT

RATEJOB

GROWTH

4Q 2016 206,239 20,235 2,897 -290 92.2% $1.40 $1,197 3.2% 1.0%

3Q 2016 201,386 20,897 3,652 1,870 93.7% $1.41 $1,207 3.5% -0.8%

2Q 2016 201,018 21,114 2,435 2,903 93.8% $1.39 $1,186 3.3% 1.8%

1Q 2016 196,917 21,383 2,788 1,833 94.1% $1.36 $1,167 3.1% 2.0%

AUSTIN MARKET AT A GLANCE

AUSTIN MULTIFAMILY MARKET INDICATORS ROLLING 12-MONTH SUMMARY

RENTAL RATES

$1.40 psf4Q rental rates dropped -0.8%

from last quarter with an annual gain of 4.5%

OCCUPANCY

92.2 %

ABSORPTION

-290 units

SALES VOLUME

31 projects sold

DEVELOPMENT

20,235 units

JOB GROWTH

10,400 jobs

4Q occupancy is down -1.5% from last quarter and down -2.0% for

the year

Negative absorption of

-290 units for the quarter, and T12

absorption totaled 6,316 units

31 projects totaling 7,951

units traded in 4Q for an average

price of $149,686 per unit

In 4Q, 79 projects totaling 20,235

units were under construction

and 12 projects totaling 2,897 units delivered

10,,400 jobs were added during 4Q, reflecting 1.0% job

growth over the prior quarter


TOTAL SALES VOLUME

4Q 2016 T12

Properties Traded 31 102

Total No. Units 7,951 24,497

Average Unit Size 913 885

Average Price / Unit $149,686 $147,407

Average Price / SF $163 $171

SALES

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$1.80

04 05 06 07 08 09 10 11 12 13 14 15 16

80.0%

85.0%

90.0%

95.0%

100.0%

04 05 06 07 08 09 10 11 12 13 14 15 16

0

2,000

4,000

6,000

8,000

10,000

12,000

04 05 06 07 08 09 10 11 12 13 14 15 16

UNITS ABSORBEDUNITS ADDED

ABSORPTION YEAR ENDING 4Q

OCCUPANCY YEAR ENDING 4Q

OCCUPANCY

AVG RENT PER SF

RENTAL RATES YEAR ENDING 4Q

DEVELOPED 2010+

4Q 2016 T12






DEVELOPED 2000-2009

4Q 2016 T12






DEVELOPED 1990-1999

4Q 2016 T12


Total No. Units 754 2,546

Average Unit Size 1,059 946



DEVELOPED 1980-1989

4Q 2016 T12






DEVELOPED 1979 AND PRIOR

4Q 2016 T12


Total No. Units 385 2,769






TOP 5 TRANSACTIONS BY SALES PRICE (T12)

BUYER

Catherine (The) Christopher Commercial

Hanover South Lamar GID Investment Advisors

Cielo Bell Partners

University Estates Presidium Group

Berkshire SoCo Sendera Investment Group

TOP 5 TRANSACTIONS BY NO. OF UNITS (T12)

UNITS

University Estates 498

Riverlodge 498

Preserve at Rolling Oaks 494

Scofield Park at Austin 486

Alara Canyon Creek 444

TOP 5 BUYERS BY NO. OF UNITS (T12)

UNITS (PROJECTS)

Castle Lanterra Properties 1,175 (4)

CWS Capital Partners 1,097 (3)

The Connor Group 1,070 (3)

Bell Partners 1,003 (3)

Starlight Investments 938 (3)

TOP 5 SELLERS BY NO. OF UNITS (T12)

UNITS (PROJECTS)

FPA Multifamily 1,132 (3)

Berkshire Group 869 (2)

Investcorp 846 (2)

Blackstone 772 (2)

Alliance Residential 706 (2)

TOP 5 LENDERS BY NO. OF UNITS (T12)

UNITS (PROJECTS)

Fannie Mae (New Origination) 6,869 (31)

Freddie Mac (New Origination) 3,441 (18)

Freddie Mac (Assumption) 1,885 (5)

Fannie Mae (Assumption) 1,754 (7)

Cash 1,123 (4)


SALES :: DEVELOPED 2010+

APARTMENT ADDRESS SUBMARKET UNITS AVGSF YOC SALE

DATE SELLER BUYER LENDER

4Q.16Promesa 9415 McNeil Drive Northwest 298 928 2012 Dec-16 Heitman Capital Management John Long & Richard Cole Fannie Mae

Rise on 8th 805 Nueces StreetCentral Business

District200 1,066 2016 Dec-16 Aspen Heights 54 Madison Partners

Guggenheim Partners Investment Management

Hanover South Lamar 809 Lamar Boulevard South South Central 340 875 2014 Dec-16 Hanover Company GID Investment Advisors Cash SaleLegacy at Southpark 8800 1st Street South South 250 905 2015 Dec-16 Realtex Development Corporation Bluerock Real Estate Fannie MaeBurnet Market Place 6701 Burnet Road North Central 343 747 2015 Dec-16 Argyle Residential CWS Capital Partners Freddie Mac

Monterra 13401 Legendary Drive Northwest 256 884 2013 Dec-16 Starlight Investments Timbercreek Asset ManagementCanadian Imperial Bank

of Commerce (CIBC)Aria Steiner Ranch 4800 Steiner Ranch Boulevard West 302 1,080 2015 Nov-16 The NRP Group Bell Partners Freddie MacWest Koenig Flats 5608 Avenue F Central 210 811 2015 Nov-16 Stillwater Capital Eaton Vance Investment Managers Cash SaleBelterra Springs 271 Trinity Hills Drive Hays 152 1,033 2015 Oct-16 JCI Residential GSSW Real Estate Investments Fannie Mae

Capstone Cottages of San Marcos 1415 Craddock Avenue San Marcos 194 2013 Oct-16 Capstone Companies Mapletree Investments Pte Ltd

3Q.16Highline 13201 Legendary Drive Northwest 256 890 2015 Sep-16 Epoch Properties SPI Holdings Fannie MaeLakeline West 2801 Lakeline Boulevard South Cedar Park / Leander 344 889 2014 Sep-16 North American Properties Weinstein Properties Fannie MaeAbacus Southside 304 William Cannon Drive East South 140 941 2014 Aug-16 Heiser Development Corporation F&B Capital KeyBankBroadstone Arboretum 10011 Stonelake Boulevard Northwest 330 809 2014 Aug-16 Alliance Residential B & M Management Company Fannie MaeCielo 2717 Lamar Boulevard South South Central 357 0 2014 Jul-16 Argyle Residential Bell Partners Fannie Mae

2Q.16Villas at Spring Trails 901 New Meister Lane Northeast 270 937 2013 Jun-16 CESM Real Estate KC Venture Group Fannie MaeEstates at Bee Cave 3544 Ranch Road 620 South West 316 965 2013 Jun-16 Embrey Partners Internacional Realty Cash SaleOrion Stone Hill 1225 Town Center Drive Northeast 370 999 2013 Jun-16 Blackstone Centennial Holding Company AIG InvestmentsCielo 3501 Ranch Road 620 South West 326 1,002 2013 Jun-16 TDI Real Estate Holdings Starlight Investments Capital OneMadrone 3499 Ranch Road 620 South West 228 995 2015 Jun-16 TDI Real Estate Holdings Starlight Investments Capital OneBroadstone 8 One Hundred 8100 Anderson Mill Road Northwest 376 807 2014 May-16 Alliance Residential Jackson Square Properties Fannie Mae

Catherine (The) 214 Barton Springs Road South Central 300 899 2013 Apr-16 StreetLights Residential Christopher CommercialPrudential Insurance

CompanyEleven 811 11th Street East East Central 257 793 2013 Apr-16 Forestar Group GID Cash Sale

Carrington Oaks 1278 Cabelas Drive Hays 303 875 2014 Apr-16 JCI Residential Sherman ResidentialJackson National Life

Insurance Company

1Q.16Sabina 3400 Harmon Avenue Campus 298 832 2013 Mar-16 Argyle Residential B & M Management Company Fannie MaeLandmark Southpark 715 Slaughter Lane West South 285 857 2014 Mar-16 Oden Hughes IMT Capital Freddie MacLenox Parkview 9400 1st Street South South 285 756 2016 Mar-16 Oden Hughes IMT Capital Freddie MacPark at Lakeline 2800 Lakeline Boulevard South Cedar Park / Leander 352 785 2014 Mar-16 GenCap Partners CWS Capital Partners TIAAAxis West Campus 2505 Longview Street Campus 167 1,127 2012 Feb-16 Catalyst Development Partners RREEF Freddie MacEscape at Four Points 11210 Ranch Road 2222 Northwest 344 940 2013 Feb-16 Embrey Partners Bell Partners Fannie Mae


SALES :: DEVELOPED 2000-2009



4Q.16Mandalay 12443 Tech Ridge Boulevard Northeast 300 826 2001 Dec-16 RAIT Financial Trust Ramon and Emma Quezada Fannie MaePreserve at Rolling Oaks 15450 FM 1325 North 494 931 2001 Nov-16 Berkshire Group Cortland Partners JP Morgan ChaseDeerfield 8700 Brodie Lane Southwest 324 945 2000 Nov-16 Falcon Southwest Bluerock Real Estate Fannie Mae

City North at Sunrise Ranch 2800 Sunrise Road Round Rock 384 949 2007 Oct-16 McShane Development Company Starlight InvestmentsCanadian Imperial Bank

of Commerce (CIBC)Townlake at Austin 1109 Pleasant Valley Road South Southeast Central 218 954 2003 Oct-16 Texas Student Housing Authority Nimes Capital Amegy Bank

3Q.16Rio West 2704 Rio Grande Street Campus 76 1,520 2006 Sep-16 NorthStar Realty Finance Columbus Nova MB KeyBankRemington Hills 10601 Manchaca Road South 208 798 2008 Sep-16 McCann Realty Partners Greg Pousson Fannie MaeBerkshire SoCo 3801 Congress Avenue South South Central 375 782 2006 Aug-16 Berkshire Group Sendera Investment Group Fannie MaeAlexan Vistas 7201 Ranch Road 2222 Northwest 334 1,032 2008 Aug-16 Trammell Crow Residential The Connor Group Freddie MacBroadstone Grand Avenue 1720 Grand Avenue Parkway Northeast 280 833 2008 Aug-16 GFG Capital Jackson Square Properties Freddie Mac

2Q.16

Marquis Shoreline 3501 Shoreline Drive North 280 919 2001 Jun-16 CWS Capital Partners TIAAStrategic Housing

Finance Corporation of Travis County

1825 Place 15835 Foothill Farms Loop Northeast 351 999 2000 Jun-16 Carlos and Donna Royal Castle Lanterra Properties Fannie Mae

Melograno at Teravista 401 Teravista Parkway Round Rock 320 924 2007 May-16 KKR The Bascom GroupLincoln Benefit Life

Company

1Q.16Riverlodge 10301 Ranch Road 2222 Northwest 498 1,001 2000 Mar-16 Time Equities Resource Real Estate Freddie MacVillas Tech Ridge 13838 The Lakes Boulevard Northeast 350 976 2008 Feb-16 Mesirow Financial Castle Lanterra Properties Fannie MaeMosaic at Mueller 4600 Mueller Boulevard East Central 441 981 2008 Feb-16 Simmons Vedder Partners CBRE Gobal Investors Fannie MaeDakota Ranch 1818 Ranch Road 12 San Marcos 188 787 2002 Jan-16 KC Venture Group Asset Campus Housing Amegy BankAlara Canyon Creek 8025 FM 620 North Northwest 444 875 2001 Jan-16 FPA Multifamily Intercontinental Real Estate Corporation Fannie MaeAlara Cantebrea 8021 FM 620 North Northwest 288 938 2001 Jan-16 FPA Multifamily Intercontinental Real Estate Corporation Fannie Mae

4Q.15

Regency at Dell Ranch 670 Louis Henna Boulevard Round Rock 256 1,080 2000 Dec-15 ARES Management TIAACapital Area Housing Finance Corporation

Lodge at Warner Ranch 1801 Warner Ranch Drive Round Rock 358 944 2000 Oct-15 FPA Multifamily H&R REITFreddie Mac

(Assumption)





4Q.16Canyon Resort at Great Hills 8701 Bluffstone Cove Northwest 256 983 1997 Dec-16 The Connor Group Steadfast Companies Fannie Mae

3Q.16Marquis at Volente 11908 Anderson Mill Road Northwest 208 877 1999 Sep-16 CWS Capital Partners Austin Affordable Housing Corporation Fannie MaeSendera Barton Creek 2716 Barton Creek Boulevard West 250 1,077 1998 Sep-16 Sendera Investment Group The Connor Group TIAA

2Q.16Scofield Park at Austin 2601 Scofield Ridge Parkway North 486 888 1999 Jun-16 Fairfield Residential The Connor Group Associated Bank

1Q.16Mission Hills 2900 Sunridge Drive Southeast Central 344 831 1999 Mar-16 Internacional Realty F&B Capital ACORE CapitalVerano at the Domain 11900 Hobby Horse Court North Central 400 816 1995 Mar-16 FPA Multifamily Arel Capital Compass BankTimbers (The) 1034 Clayton Lane Northeast Central 104 1,103 1998 Mar-16 Wenson & Associates Cesar Chavez Foundation HUD





4Q.16Parkside at Lake Creek 10707 Lake Creek Parkway Northwest 350 775 1984 Dec-16 Lone Star Funds Avesta Freddie MacPecan Grove 5112 Lamar Boulevard North Central 192 600 1983 Dec-16 Lone Star Funds Avesta Freddie Mac

Place at West Village 739 William Cannon Drive West South 255 699 1983 Oct-16 MC Companies F&B CapitalInternational Bank of

CommerceAmor 1236 Mearns Meadow Boulevard North 132 615 1984 Oct-16 Jevan Capital Exchange Right JP Morgan ChaseFeliz 1804 Rundberg Lane West North 130 671 1980 Oct-16 Jevan Capital Exchange Right JP Morgan ChaseVida 1735 Rutland Drive North 160 681 1983 Oct-16 Jevan Capital Exchange Right JP Morgan Chase

Tierra Bella 6407 Springdale Road East 204 898 1984 Oct-16 The PPA Group JoCo PartnersResource Capital

Corporation

3Q.16Timbers (The) 900 Peques Street San Marcos 155 729 1984 Sep-16 University Communities The Jacobson Company Fannie MaePine Point 1 Pine Point Drive Bastrop 56 0 1986 Aug-16 Columbia Real Estate Group Pradeep Mistry Freddie Mac

2Q.16Laurel Woods 8312 Fathom Circle Northwest 150 841 1984 Jun-16 Presidium Group Investors Capital Group Fannie MaeCreekside Trace 8912 Lamar Boulevard North North 192 605 1983 Jun-16 Terry Matheny 1 to 9 Real Estate Investments Independent Bank1825 Cottages 1001 Nimbus Drive Northeast 104 750 1986 Jun-16 Carlos and Donna Royal Castle Lanterra Properties Fannie MaeArbors of Bastrop 202 Childers Drive Bastrop 88 778 1985 May-16 37th Parallel Properties Pradeep Mistry Freddie MacOslo (The) 6808 I-35 South South 176 610 1984 May-16 Joe Bruggeman Austin Affordable Housing Corporation Fannie MaeMeridian (The) 1930 Rundberg Lane West North 200 741 1985 May-16 Highland Capital Management Firmus Equity Partners Great Southern Bank

1Q.16Shadow Oaks 12148 Jollyville Road Northwest 176 750 1985 Mar-16 Arruth Associates GWR Equities Freddie MacPark at Stone Creek 9200 North Plaza Northeast 420 754 1981 Feb-16 Bridgeview Real Estate Turner Impact Capital Fannie MaeFlorencia Villas 1109 San Marcos Parkway San Marcos 64 1,000 1980 Feb-16 The Ideal Investments Group Austin Capital Advisors American Bank of TexasRundberg West 1809 Rundberg Lane West North 72 406 1984 Jan-16 Booth Family Trust Highland Capital Management Freddie Mac


SALES :: DEVELOPED 1979 AND PRIOR



4Q.16Westheimer Oaks 2606 Wheless Lane Northeast Central 70 863 1972 Dec-16 Austin Capital Advisors GV&A Real Estate Group Freddie Mac

Arya 5426 Manchaca Road South 59 628 1973 Oct-16 Brugge Properties Chyh-Woei LeeFirst State Bank Central

TexasParker (The) 5106 Lamar Boulevard North Central 152 649 1966 Oct-16 Jaffe Group Austin Capital Advisors LStar Capital

3Q.16

Mueller 51 5005 Manor Road East Central 58 816 1967 Sep-16 Artesia Real EstateDaniel Korb / Otis Littlefield / Cathy

Fontana (TIC)Freddie Mac

Manor Palms 6103 Manor Road Northeast Central 124 895 1973 Sep-16 Ramon and Emma Quezada Alan Stalcup KeyBankAustin Pacifica 1521 Reagan Hill Drive Northeast Central 102 664 1971 Sep-16 Ramon and Emma Quezada Alan Stalcup KeyBankAusitn Garden 7401 Lamar Boulevard North North Central 126 519 1973 Sep-16 Binkley W. Fidge Debra Korduner & Hal Lashlee Seller FinancingBent Oaks 3600 North Hills Drive Northwest Central 146 726 1978 Sep-16 Resource Real Estate Firmus Equity Partners Great Southern BankWoodhollow 3524 Greystone Drive Northwest Central 108 897 1974 Sep-16 Resource Real Estate Firmus Equity Partners Great Southern BankMint Urban Red River 3401 Red River Street Campus 138 627 1971 Sep-16 Cardinal Group Investments Horizon Realty Advisors Fannie MaeArrangement (The) 2101 Burton Drive Southeast Central 370 897 1971 Aug-16 F&B Capital Castle Lanterra Properties Freddie MacTriple Crown 7020 Grand Canyon Drive Northeast Central 182 835 1969 Aug-16 David Shippy DeLong Properties Fannie MaeLyric at Mueller 5020 Manor Road East Central 58 1,034 1969 Aug-16 Thrive FP USA Property Investments Citizen's National Bank

2Q.16

St. Johns Square 7200 Duval Street North Central 63 722 1969 Jun-16 Artesia Real Estate Gemstone Asset ManagementArbor Commercial

MortgageCurrent (The) 2005 Willow Creek Drive Southeast Central 300 824 1974 Jun-16 Thrive FP Avesta Fannie Mae

Lantana 1802 West AvenueCentral Business

District50 842 1962 Apr-16 StoneCreek Properties Robert Zakari Morgan Stanley

1Q.16Miller Square 918 40th Street East Central 51 705 1966 Feb-16 Miller Family Trust Austin Capital Advisors American Bank of TexasLas Colinas 1500 Reagan Hill Drive Northeast Central 178 760 1969 Jan-16 Thomas Grojean David Shippy Fannie Mae

Cobalt 1616 Royal Crest Drive Southeast Central 105 807 1968 Jan-16 Bruggeman Properties F&B CapitalInternational Bank of

Commerce

Warren House 2437 Town Lake Circle Southeast Central 57 400 1975 Jan-16 Warren Properties F&B CapitalInternational Bank of

CommercePark (The) 1300 Pleasant Valley Road South Southeast Central 168 798 1973 Jan-16 Real Management Corporation Sepic Family Wells Fargo


CONSTRUCTION4Q 2016 PIPELINE STATISTICS

PIPELINE PROJECTS UNITS

Submitted (Filed For Building Permit) 78 18,545

Approved (Construction Has Not Yet Begun) 15 4,020

Currently Under Construction 79 20,235

Completed - 4Q 2016 12 2,897

Completed - 3Q 2016 18 3,652

Completed - 2Q 2016 9 2,435

Completed - 1Q 2016 12 2,788

PROPERTY TYPE UNDER CONSTRUCTION

TYPE UNITS %

Conventional 16,622 82.4%

Student 584 2.9%

Affordable 1,982 9.5%

Senior 1,047 5.2%

Totals 20,235 100.0%

DELIVERY FORECAST UNDER CONSTRUCTION

QUARTER PROJECTS UNITS

1Q 2017 7 1,834

2Q 2017 19 5,146

3Q 2017 11 2,901

4Q 2017 19 4,361

1Q 2018 8 1,902

2Q 2018 3 928

3Q 2018+ 12 3,163

TOP 10 DEVELOPERS T12 DELIVERY & UNDER CONSTRUCTION

DEVELOPER PROJECTS UNITS

Greystar Real Estate Partners 4 1,054

JCI Residential 3 912

Arden Residential 3 853

Western Rim 2 852

Oden Hughes 2 739

PEDCOR Investments 3 612

Columbus Realty Partners 2 588

Ryan Companies 2 486

Transwestern 2 485

Teeple Partners 2 458

0 1000 2000 3000

WilliamsonWest

SouthwestSoutheast Central

SoutheastSouth Central

SouthSan MarcosRound Rock

Northwest CentralNorthwest

Northeast CentralNortheast

North CentralNorthHays

Far NorthwestFar North

East CentralEast

CentralCedar Park/Leander

CBDCampus (UT)

Bastrop

AUSTIN MSA DEVELOPMENT DEVELOPMENT SUPPLY BY SUBMARKET

T12 MONTHS & UNDER CONSTRUCTION

COMPLETED UNDER CONSTRUCTION

AUSTIN MSA DEVELOPMENT DELIVERIES & FORECAST (1,000s)

0.0

1.0

2.0

3.0

4.0

5.0

6.0

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

4Q16

1Q17

2Q17

3Q17

4Q17

1Q18

2Q18

+


UNDER CONSTRUCTION

PROJECT NAME CATEGORY ADDRESS CITY SUBMARKET UNITS EXPECTEDCOMPLETION DEVELOPER

2211 ATX Student 2211 Nueces Street Austin Campus (UT) 135 Oct-18 Johnson Trube & Associates

51 Aldrich Affordable 2604 Aldrich Street Austin East Central 240 Sep-17 DMA Companies

Affinity at Round Rock Senior 30 Cypress Boulevard Round Rock Round Rock 170 Feb-18 Inland Group

Affinity at Southpark Meadows Senior 9500 Alice Mae Lane Austin South 163 Nov-17 Inland Group

Alexan East 6th Conventional 2416 6th Street East Austin East Central 208 Aug-17 Trammell Crow Residential

Altis at Lakeline Conventional 12700 Ridgeline Boulevard Austin Cedar Park/Leander 354 May-17 Altman Companies

Ambrosio Conventional 14209 1/2 I-35 Service Road NB North Austin Far North 370 Nov-17 Ledcor Properties

AMLI at Mueller (Phase 2) Conventional 2401 Aldrich Street Austin East Central 318 Jul-18 AMLI Residential

Arnold (The) Conventional 1621 6th Street East Austin East Central 346 Dec-17 Transwestern

Arrington Ridge Conventional 652 University Boulevard Round Rock Round Rock 312 Jun-17 Carroll Companies

Aspen West Campus Student 1909 Rio Grande Street Austin Campus (UT) 166 Aug-18 Aspen Heights

Bartz II Conventional 1100 Hidden Valley Drive Round Rock Round Rock 296 Dec-17 Abacus Capital Group

Broadstone Burnet Conventional 10316 Burnet Road Austin North Central 352 Nov-18 Alliance Residential

Cardinal Point Affordable 11015 Four Points Drive Austin Northwest 120 Dec-17 Foundation Communities

Carneros Village Conventional Bagdad & Marsala Circle Leander Cedar Park/Leander 240 Aug-18 K.L. Enterprises

Creekside at Kenny's Fort Conventional 1100 Kenney Fort Trail Round Rock Round Rock 250 Mar-17 Tim Timmerman

Domain Multifamily Block M Conventional 2818 Kramer Lane Austin North 260 Jun-19 Columbus Realty Partners

Domain Multifamily Block N Conventional 3000 Kramer Lane Austin North Central 328 Jun-19 Columbus Realty Partners

Elan Parkview Conventional 5901 Airport Boulevard Austin North Central 309 Jan-18 Greystar Real Estate Partners

Emerson Conventional 1221 New Meister Lane Pflugerville Northeast 384 May-17 CESM Real Estate

Estancia Villas Conventional 1200 Estancia Parkway Austin Southwest 312 Apr-18 JCI Residential

Fairway Landings at Plum Creek Affordable 510 Kohlers Crossing Kyle Hays 216 May-18 PEDCOR Investments

Farmhouse Conventional 10713 I-35 South Austin Southeast 235 Nov-17 Ardent Residential

Groves South Lamar Conventional 3607 Lamar Boulevard Austin South Central 310 Feb-18 Ardent Residential

Hanover Lantana Hills Conventional 6601 Rialto Boulevard Austin Southwest 300 Feb-19 Hanover Company

Harris Branch Senior Affordable 13301 Dessau Road Austin Northeast 236 Mar-17 Dessau Howard

Hays Junction (Phase 2) Conventional 828 Bebee Road Kyle Hays 102 Nov-17 The Blackburn Group

Highlands at Wells Branch Conventional 148 Wells Branch Parkway East Pflugerville Northeast 292 Jul-17 JCI Residential

IMT Riata Conventional 5705 Diehl Trail Austin Northwest 307 Jun-17 IMT Capital

Indie Conventional 1630 6th Street East Austin East Central 139 Mar-18 Transwestern

IO Austin Conventional 12600 McCallen Pass Austin Northeast 351 Nov-17 Quentin Ltd

Lakeline Crossing Conventional 13010 Ridgeline Boulevard Austin Cedar Park/Leander 301 May-17 Provident Realty Advisors

Lakeline Station Affordable 13635 Rutledge Spur Austin Cedar Park/Leander 128 Jun-17 Foundation Communities

LaMadrid Apartments and Townhomes Conventional 11320 Manchaca Road Austin South 95 Dec-17 Wolfpack Group

Lenox Boardwalk Conventional 1500 Pleasant Valley Road South Austin Southeast Central 339 Aug-17 Oden Hughes

Lenox Springs Conventional 10500 I-35 South Austin South 400 May-18 Oden Hughes

Live Oak at Southpark Meadows Conventional 10301 Old San Antonio Road Austin South 330 Dec-18 Ingram & Associates

Local (The) Student 210 Edward Gary Street North San Marcos San Marcos 96 Aug-17 Carson Diversified Properties

Mansions at Stone Hill Conventional 1316 Town Center Drive Pflugerville Northeast 414 Jan-17 Western Rim

Mansions at Travesia Conventional 4301 Grand Avenue Parkway Austin North 438 Jul-17 Western Rim

Merritt Hill Country Senior 28999 Ranch Road 12 Dripping Springs Hays 140 Dec-17 Merritt Communities


UNDER CONSTRUCTION CONTINUED

PROJECT NAME CATEGORY ADDRESS CITY SUBMARKET UNITS EXPECTEDCOMPLETION DEVELOPER

Michael at Presidio Conventional 13435 Lyndhurst Street Austin Northwest 415 Jun-17 StreetLights Residential

Oaks of Kyle Conventional 200 Goforth Road Kyle Hays 204 Jan-17 Teeple Partners

Oaks on Marketplace Conventional 20400 Marketplace Avenue Kyle Hays 254 Mar-18 Teeple Partners

Ocotillo West Park Conventional 8000 Highway 290 West Austin Southwest 308 Apr-17 Ardent Residential

Olde California Conventional 515 Slaughter Lane East Austin Southeast 256 May-17 Westwood Residential

Overture at Mueller Senior 4818 Berkman Drive Austin East Central 201 Dec-17 Greystar Real Estate Partners

Overture at the Domain Senior 3100 Kramer Lane Austin North Central 189 Jul-18 Greystar Real Estate Partners

Park at Crystal Falls Conventional 7740 Highway 183A Leander Cedar Park/Leander 242 Dec-17 GenCap Partners

Parmer Ranch Trails Conventional 3440 Ranch Trail Cedar Park Cedar Park/Leander 337 Dec-17 NRP Group

Pearl Lantana Conventional 6401 Rialto Boulevard Austin Southwest 444 Apr-17 Morgan Group

Platform Conventional 1801 Alexander Avenue Austin East Central 355 Jun-17 Greystar Real Estate Partners

Pointe San Marcos Student 417 Comanche Street North San Marcos San Marcos 95 Jun-17 Skyline Builders

Post South Lamar (Phase 2) Conventional 1414 Lamar Boulevard South Austin South Central 344 Apr-17 Mid-America Communities

Republic Place Conventional 5708 Parmer Lane West Austin Northwest 290 Nov-17 Epoch Properties

Republic Square Conventional 401 Guadalupe Street Austin CBD 221 Jun-19 Gables Residential

Reserve at Falcon Pointe Conventional 2132 Falcon Village Lane Pflugerville Northeast 324 Aug-18 Waypoint Residential

Reserve at Springdale Affordable 5605 Springdale Road Austin East 292 Jun-17 Ryan Companies

Residences of San Marcos Conventional 1271 Sadler Drive San Marcos San Marcos 240 Dec-17 Covenant Development

Retreat at Wolf Ranch Conventional 2306 Wolf Ranch Parkway Georgetown Williamson 303 Mar-18 McCann Realty Partners

Solea Senior Senior 1520 Juliette Way Cedar Park Cedar Park/Leander 184 Nov-17 Stream Realty Partners

South Park Crossing Conventional 1701 Oak Hill Lane Austin Southeast 308 May-17 JCI Residential

Springs at Round Rock Conventional 1200 Old Settlers Boulevard East Round Rock Round Rock 260 Aug-17 Continental Properties

Tacara Steiner Ranch Conventional 4300 Quinlin Park Road North Austin West 246 Jul-17 Casey Development

Terrace at Walnut Creek Conventional 8712 Old Manor Road Austin East 324 Dec-17 Edward Butler

Thornton Flats Conventional 2501 Thornton Road Austin South Central 104 Apr-17 PSW Real Estate

Trillium Terrace Conventional 6500 Manchaca Road Austin South 168 Jun-17 IMPACT Developers

Tuckaway Affordable 1740 Bagdad Road Cedar Park Cedar Park/Leander 256 Jul-17 PEDCOR Investments

Urban North Conventional 8101 San Felipe Boulevard Austin Northwest 179 Apr-17 Spicewood Development

Urban Oaks Affordable 6725 Circle S Road Austin South 194 Jul-17 Ryan Companies

View at Cedar Park Conventional 1430 Main Street Cedar Park Cedar Park/Leander 166 Feb-17 Capella Commercial

View on the Square Conventional 228 Guadalupe Street South San Marcos San Marcos 136 Nov-17 JSDI Celmark

Villas at San Gabriel Student 2424 San Gabriel Street Austin Campus (UT) 92 Jun-17 Zucker Properties

Walnut Park Conventional 12100 Lamar Boulevard North Austin North 277 Feb-18 Larry Peel & Company

Water Marq Conventional 300 Riverside Drive East Austin South Central 264 Feb-17 CWS Capital Partners

Waters at Sunrise Affordable 2750 Sunshine Road Round Rock Round Rock 300 Mar-17 Atlantic Housing Foundation

Westerly Conventional 2224 Walsh Tarlton Lane Austin West 189 Dec-17 Centro Development

Westgate Ridge Conventional 8700 Westgate Boulevard Austin South 140 Mar-18 PEDCOR Investments

Wolf Ranch Conventional 2311 Wolf Ranch Parkway Georgetown Williamson 332 Aug-17 Leon Capital Group


APPROVED

PROJECT NAME CATEGORY ADDRESS CITY SUBMARKET UNITS DEVELOPER

1155 Barton Springs Conventional 1155 Barton Springs Road Austin South Central 74 Dominion Realty Advisors

Amberglen Conventional 9239 Amberglen Boulevard Austin Northwest 300 Continental Properties

Austin Flatiron Conventional 10727 Domain Drive Austin North Central 372 StreetLights Residential

Avenue (Phase 2) Student 1111 Avalon Avenue San Marcos San Marcos 134 Park 7 Group

Colorado Creek Apartments Homes Conventional 3101 Fallwell Lane Austin Southeast 650 Goveia Commercial Real Estate

Creekside on Parmer Conventional 5401 Parmer Lane East Austin Northeast 300 Galesi Group

Davies Ranch Apartment Homes Conventional 12113 Dessau Road Austin Northeast 336 Carroll Companies

Edison (The) Conventional 4711 Riverside Drive East Austin Southeast Central 353 Presidium Group

Lakeline Crossing (Phase II) Conventional 13010 Ridgeline Boulevard Austin Cedar Park/Leander 200 Provident Realty Advisors

Nine at Austin Student 2518 Leon Street Austin Campus (UT) 109 Wuest Group

Oaks at Techridge V Conventional 14201 I-35 North Austin Northeast 328 Ledcor Properties

Regal Parc (Phase 2) Conventional 348 Cypress Creek Road Cedar Park Cedar Park/Leander 123 RB Associates

ThinkEast Affordable 1143 Shady Lane Austin East 182 Austin Affordable Housing

Thorpe Lane Lofts Student 1351 Thorpe Lane San Marcos San Marcos 174 Javastone Capital Holdings

Villas at Spring Trails (Phase 2) Conventional 902 New Meister Lane Pflugerville Far North 385 CESM Real Estate

Merritt Heritage Senior 4700 Williams Drive Georgetown Williamson 244 Merritt Communities

Regal Parc (Phase 2) Conventional 348 Cypress Creek Road Cedar Park Cedar Park/Leander 123 RB Associates

Thorpe Lane Lofts Student 1351 Thorpe Lane San Marcos San Marcos 174 Javastone Capital Holdings

Villas at Spring Trails (Phase 2) Conventional 902 New Meister Lane Pflugerville Far North 385 CESM Real Estate


SUBMITTED


1301 5th Street West Conventional 1301 5th Street West Austin Central 226 CWS Capital Partners

2100 Nueces Student 2100 Nueces Street Austin Campus (UT) 158 University House Communities

2100 Rio Grande Student 2100 Rio Grande Street Austin Campus (UT) 108 Capstone Collegiate Communities

22nd & Nueces Student 2200 Nueces Street Austin Campus (UT) 129 Capstone Collegiate Communities

300 Pressler Conventional 300 Pressler Street Austin Central 124 Riverside Resources

315 Pressler Conventional 315 Pressler Street Austin Central 109 Riverside Resources

3rd & Colorado Conventional 300 Colorado Street Austin CBD 300 Riverside Resources

48 East Avenue Conventional 48 East Avenue Austin CBD 239 Lee Properties

612 6th Street Conventional 612 6th Street West Austin CBD 172 Aspen Heights

99 Trinity Tower Conventional 99 Trinity Street Austin CBD 350 World Class Capital Group

Alta Tech Ridge Conventional 12408 Dessau Road Austin Northeast 230 Wood Partners

AMLI Southshore (Phase 2) Conventional 1620 Riverside Drive East Austin Southeast Central 75 AMLI Residential

Anthem at Ledge Stone Affordable Ledge Stone Dripping Springs Hays 280 Bonner Carrington

Aura Riverside Conventional 6201 Riverside Drive East Austin Southeast Central 360 Trinsic Residential Group

Austin Goodnight Ranch Conventional 2022 Slaughter Lane East Austin Southeast 292 Benchmark Development

Avenue (The) Conventional 721 Congress Avenue Austin CBD 135 Congress Development Partners

Balcones (The) Conventional 3550 AW Grimes Boulevard North Round Rock Round Rock 238 Ground Floor Development

Blanco River Village Conventional Highway 21 & Newberry Trail San Marcos San Marcos 254 Momark Development

Blanco River Walk Conventional Riverway Avenue & Cotter Avenue San Marcos San Marcos 312 Alliance Development

Cameron Heights Affordable 9201 Cameron Road Austin Northeast 264 LDG Development

Carroll at Rivery Ranch Conventional 800 Wolf Ranch Parkway Georgetown Williamson 272 Fairfield Residential

Circle C Conventional 7500 Slaughter Lane West Austin Southwest 240 Stratus Properties

Commerce Place Conventional 130 Commerce Center Pflugerville Northeast 254 Tim Timmerman

Concho Commons Student 101 Concho Street San Marcos San Marcos 312 Casey Development

Deerwood at Lakeline Conventional 12638 Ridgeline Boulevard Austin Cedar Park/Leander 270 San Jacinto Realty Services

Del Valle Affordable 14011 FM 969 Del Valle East 302 NRP Group

East 9th Street Conventional 703 9th Street East Austin CBD 65 Sackman Enterprises

East Avenue Conventional 16 I-35 North Service Road Austin CBD 226 The Richman Group

Edenbrook Ridge Conventional 301 Wells Branch Parkway East Austin Northeast 336 Carroll Companies

Enclave (The) Senior 2350 Oakmont Drive Round Rock Round Rock 170 Spectrum Acquisition

Ethos (Phase 3) Conventional 8300 Bluff Springs Road Austin Southeast 372 Hudgins Companies

Falcon Pointe Conventional Colorado Sands Drive Pflugerville Northeast Terra Falconbrooke

Flora (The) Conventional 5406 Middle Fiskville Road Austin Central 190 JCI Residential

Fusion Flats Conventional 8401 1st Street South Austin South 124 IMPACT Developers

Granada Ridge Conventional 8327 US Highway 290 West Austin West 500 Carroll Companies

Grove at Shoal Creek Conventional 2625 45th Street West Austin Central 160 Milestone Community Builders

Guthrie (The) Conventional 3300 Gonzales Street Austin East Central 300 Argyle Residential

Hanover Lantana Hills (Phase 2) Conventional 6701 Rialto Boulevard Austin Southwest 370 Hanover Company

Harris Ridge Affordable 1501 Howard Lane East Austin Northeast 324 NRP Group

Heights on Parmer (Phase 2) Affordable 1524 Parmer Lane East Austin Northeast 80 PEDCOR Investments

Highland (Phase 2) Conventional 6140 Highland Campus Drive Austin North Central 227 Greystar Real Estate Partners


SUBMITTED CONTINUED


Kaia Pointe Affordable 104 Gatlin Creek Drive Georgetown Williamson 104 Georgetown Gatlin Creek

Lamar at North Loop VMU Conventional 5210 Lamar Boulevard North Austin North Central 209 Grey Forest Development

Las Maderas Affordable 4500 William Cannon Drive East Austin Southeast 250 LDG Development

Lindsey Hill Student 500 Hutchinson Street West San Marcos San Marcos 164 Arqeo

Live Oak Affordable 4121 Williams Drive Georgetown Williamson 108 PEDCOR Investments

Lot 18 Lakeshore Conventional 2225 Elmont Drive Austin Southeast Central 131 Argyle Residential

Lynd at Lake Travis Conventional 2306 FM 620 North Austin West 312 LYND

Mansions of Georgetown Conventional Westinghouse Road Georgetown Williamson 438 Western Rim

Mariposa Flats Conventional 1901 Mariposa Drive Austin Southeast Central 122 Brugge Properties

Merritt Heritage Senior 4700 Williams Drive Georgetown Williamson 244 Merritt Communities

MLK Mixed Use Conventional 1701 Martin Luther King Jr Boulevard East Austin East Central 54 KRDB Development

Newnington Conventional 1127 Pearl Retreat Lane Austin Northeast 288 Carroll Companies

Nightinggale at Goodnight Ranch Senior 5900 Charles Merle Drive Austin Southeast 174 DMA Companies

North Bluff 2 Conventional 705 North Bluff Drive Austin South 68 PSW Real Estate

North Burnet Gateway Conventional 2501 Braker Lane West Austin Northeast 328 Argyle Residential

North Creek Conventional 500 Chris Kelley Boulevard Hutto Williamson 310 CMC Realty

Oak Creek Village (Phase 2) Affordable 2324 Wilson Street Austin South Central 313 Eureka Holdings

Park at Crystal Falls (Phase 2) Conventional 7740 Highway 183A Leander Cedar Park/Leander 248 GenCap Partners

Park at Estancia Conventional 12110 1/2 I-35 South Service Road Austin South 320 GenCap Partners

Plaza Saltillo Conventional 901 5th Street East Austin East Central 534 Endeavor Real Estate Group

Presidium Pleasant Valley Conventional 1600 Pleasant Valley Road South Austin Southeast Central 430 Presidium Group

Rancho Garza Multifamily Conventional 3801 Ben Garza lane Austin South 369 Trammell Crow Residential

RBJ Center Affordable 21 Waller Street Austin East Central 263 Momark Development

Sarita Valley Conventional Ronald Reagan & Sarita Valley Leander Williamson 270 CESM Real Estate

Skylofts Student 507 23rd Street West Austin Campus (UT) 212 Johnson Trube & Associates

SOCO II Conventional 5901 Congress Avenue South Austin South 249 Butler Family

Tech Ridge 5 Conventional 13301 Center Lake Drive Austin Northeast 300 Westwood Residential

Terraces at Scofield Ridge Conventional 3001 Scofield Ridge Parkway Austin North 350 Oden Hughes

Trace / Highpointe Conventional South Posey Road Austin San Marcos 405 Wilson-Jones Properties

Trails of Leander Conventional 1208 Bagdad Road Leander Cedar Park/Leander 219 American Housing Ventures

Urbana East at Goodnight Ranch Conventional 2204 Slaughter Lane East Austin Southeast 62 Mesquite Homes

Village at Wuthrich Hill Conventional Dessau Road Pflugerville Far North 219 Jay B. Sparkes & Company

Villages at Turtle Rock (Phase 2) Conventional 12833 Turtle Rock Road Austin Northwest 107 Qualico Communities

Villas of Georgetown Conventional 520 Wolf Ranch Parkway Georgetown Williamson 264 Tony Austin Company

Waller Park Place Conventional 96 Red River Street Austin CBD 374 Sutton Company

Wells Branch Conventional 800 1/2 Wells Branch Parkway Austin Northeast 264 The Blackburn Group

Works at Pleasant Valley Affordable 2800 Lyons Road Austin East Central 74 Lifeworks Affordable Housing Corporation

Copyright © 2017 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to first parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein.

901 South MoPac ExpresswayBuilding 4, Suite 250Austin, Texas 78746

T 512.328.5600 F 512.328.9309www.transwestern.com/austin

METHODOLOGYThe information in this report is the result of a compilation of information on the Austin MSA multifamily

market. Transwestern obtained the information from a variety of primary and secondary sources, including

Austin Investor Interests, MPF Research, ALN Apartment Data, and the City of Austin. This report includes

data based on apartment complexes with a threshold size of 50 units.

CONTACT

TRANSWESTERN AUSTIN | SAN ANTONIO MULTIFAMILY CAPITAL MARKETS GROUP

Chris Stutzman Managing Director Austin Multifamily Group 512.314.5203 [email protected]

Jeff Rogers Managing Director Austin Multifamily Group 512.314.5207 [email protected]

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