The Saint Mary

Project Description

In June 2018, Stratus commenced construction on The Saint Mary, a 240-unit luxury, garden-style community in the heart of Circle C Ranch. Stratus executed its signature hospitality-like approach to the design of the development, began pre-leasing in June 2019, and had the first tenants take occupancy in July 2019, four weeks ahead of schedule. Stratus closed the sale of Saint Mary in January 2021, for $60 million ($250K/unit), setting a per-unit record at the time for similar properties in the Austin MSA and resulting in a pre-tax gain on sale of $22.9 million.

Project Details

Location:  7500 W Slaughter Lane | Austin, TX
Submarket:  Circle C Ranch Community
Asset Type:  Luxury Multifamily Development
Size:  240 Units
Status:  Exited January 2021

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