Boston, MA – (October 17, 2019) GID announced today that it has acquired Broadstone Burnet, a 352 unit apartment community located in Austin, Texas. The Property is located south of The Domain, a highly dynamic  mixed-use development located eight miles north of downtown Austin. The Domain includes upscale shopping, a diverse range of restaurants, and a Whole Foods Market. Burnet will have connectivity to Cap Metro, Austin’s light rail system, which provides transit to downtown in 30 minutes. The Property has excellent visibility along Burnet Road, providing residents access to the regional headquarters of Amazon, Facebook, and Indeed located less than one mile north. Apple is slated to build a $1 Billion campus 15 minutes northwest of the Property along Parmer Lane.

Built in 2019, the Property consists of two separate 4-story wood framed structures. Units are well finished with ten foot ceilings, European style kitchens with 42” cabinetry, and quartz countertops. Select units feature seventeen foot ceilings. Both the quality of the units and the amenity package exceed those found at most nearby mid-rise communites.

Matt Stuart, Senior Vice President and Director of Western Region Acquisitions at GID commented, “We are pleased to acquire a property with such convenient access to major employers and proximity to the eclectic retail offered at The Domain. We expect Burnet to become even more desirable to renters as employers continue to add jobs to the area and as Austin FC’s stadium brings additional recreational opportunites to the submarket. The property will be a welcome addition to our expanding Austin portfolio.”