Korman Communities Brings Versatile-Keep Dwelling to Austin Market With Acquisition of Newly Constructed 226-Unit Condo Neighborhood

Korman Communities Brings Flexible-Stay Living to Austin Market With Acquisition of Newly Built 226-Unit Apartment Community

AUSTIN, TX – Korman Communities, in partnership with Verde Capital, has completed the purchase of its first property in Austin, Texas. The brand new, 226 unit, Class AA property, AVE Austin, offers a unique, flexible living solution in North Austin, conveniently located between Downtown Austin and The Domain.

"This acquisition marks the first of many new ventures in the region," said Bradley Korman, co-CEO of Korman Communities in the Philadelphia area. "We continue to focus on markets that best reflect where people want to live and work, buying and developing state-of-the-art residential real estate."

The investment in AVE Austin is in line with Verde Capital's ongoing quest for opportunities in high-growth urban and suburban markets.

"With its proximity to major educational institutions, medical systems and technological workplaces, this location offers the sustainable demand drivers that will make AVE Austin a sought-after property for decades to come," said Jake Reiter, President of Verde Capital.

AVE Austin offers spacious one-, two- and three-bedroom luxury apartments and fully furnished apartments combined with unparalleled on-demand business and resort amenities and a dedicated service team on site seven days a week.

"Austin is seeing an influx of new residents every year due to its growing labor market, so there is a real need for comfortable, flexible living options," said Lea Anne Welsh, COO of Korman Communities and president of the AVE brand. "We've got you covered at AVE Austin – whether you need an apartment with furnishings month after month while you settle down, or you are looking for an unfurnished apartment long term."

All residents enjoy free on-demand access to resort and business amenities such as a sparkling pool and barbecue stations, a state-of-the-art fitness center, a quiet courtyard with hammocks and a fire pit, a rooftop lounge with views of downtown Austin, pet Spa, cyber lounge, flexible workspace and private meeting rooms. AVE's professional Resident Services team is on site seven days a week to help with daily living needs and create a sense of community through concierge support, events and partnerships.

"Our goal is to manage world-class communities where people can live, work and play," says Welsh. "Everything we offer – from our attentive service, high-quality apartments, on-demand amenities to community events", should ensure that our residents feel comfortable and cared for. "

AVE Austin is centrally located in North Austin, just a few minutes' walk from the Red Line, which has connections from Leander downtown with stops at UT-Austin and The Domain®. This state-of-the-art condominium is convenient for commuting and has easy access to freeways 35 and 183.


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