One of the last large-scale redevelopment sites in Austin’s East Riverside Corridor is set to go to auction on June 24, with a starting bid of $9.5 million. The ±20-acre infill tract, which includes an existing 562-unit Mia Riverside community, is positioned to benefit from the corridor’s transit-oriented redevelopment momentum and Austin’s light rail expansion. LXMI Capital and Nirvana Capital Group bought the apartment complex two years ago.
The site at 1601 Royal Crest Dr is considered an infill location that is minutes from Downtown Austin, the Oracle campus, Lady Bird Lake and Austin-Bergstrom International Airport
The offering is being brought to market via RI Marketplace, a modern commercial real estate auction platform built to create competition, pricing transparency and certainty of execution. Colliers is partnering on the marketing.
Interested parties can register for the auction here.
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