SPI adds 244-unit, Class-A property to Austin portfolio

SPI Advisory (SPI) recently finalized the acquisition of Parkview Terraces (formerly known as “Cortland Southpark Terraces”), a newly-renovated 244-unit, Class-A institutional-quality apartment community built in 2009 less than five miles from Austin’s bustling South Congress entertainment district along the rapidly growing IH-35 Corridor that connects Austin and San Antonio. Parkview Terraces represents SPI’s eighth property under management in the Austin metropolitan area, totaling nearly 2,500 units.

Conveniently located 15 minutes away from Downtown Austin, just off of IH-35 near the popular Southpark Meadows shopping center, Parkview Terraces offers its tenants spacious floorplans with contemporary design, resort-class amenities, and proximity to Austin’s major employment, retail & entertainment centers for an affordable price point. The area within a one-mile radius of the property has experienced a population growth of 91% from 2010 to 2022, and the average household income is $104,000. (U.S. Census Bureau, April 2023).