background-Tacara Steiner Ranch

Tacara Steiner Ranch


The Tacara Steiner Ranch is a newly constructed, Class A apartment community, comprised of 246 units in Austin, TX. Adjacent to Lake Travis, the location provides abundant recreation and retail amenities and access to employment centers. The surrounding area has a good school district and strong demographics with median incomes within a 1-mile radius of more than $125,000 and median home values at nearly $500,000.

About the asset

Tacara Steiner Ranch is an opportunity to acquire a fee simple interest in a Class A, 246-unit garden-style multifamily community located in the master planned community of Steiner Ranch on the Northwest side of Austin. It is in close proximity to Lake Travis and offers views of the lake from various points across the property. Built in 2017, Tacara Steiner Ranch consists of a mix of one-, two- and three-bedroom units.

Tacara Steiner Ranch is attractive to the renter demographic given its combination of scenic Lake Travis views within close proximity and easy access to major transportation nodes linking residents to nearby employment and retail/entertainment. Tacara Steiner Ranch has an abundance of best-in-class features with more than 15,000 sq. ft. of amenity space inside and outside. Some of the more unique amenities are the oversized 9,000 sq. ft. clubhouse with an indoor/outdoor social area and retractable walls, a hydro-massage studio, and an infinity pool overlooking Lake Travis.

Identified as a major millennial magnet, Austin is poised for growth. We believe this property will benefit from Austin’s growing population and employment

Richard Kimble, Portfolio Manager
Sego Lily, GCREIT holding
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These properties represent select holdings at the time of publication and are not meant to represent the entire portfolio. The opinions expressed are reflective of the manager's views at the time of acquisition.