Colonial Properties gains apartments

Buys South Creek in Texas

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Colonial Properties Trust acquired Villas on South Creek, a 232-unit multifamily property in Austin, Texas. The value of the transaction was not disclosed. The class-A property is located at 1111 South Creek Drive in the Round Rock sub-market. Following Colonial Properties branding program, the property will be renamed Colonial Village at Sierra Vista. The property has one- to three-bedroom apartments ranging from 750 to 1,200 square feet. Colonial Properties Trust is a diversified REIT that owns a portfolio of multifamily, office and retail properties. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....