The clubhouse of Avia Sanctuary at Highland Mall, with light wood flooring and a white brick fireplace.

PEG Cos. Sells 96-Unit Hotel-to-Multifamily Conversion in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — PEG Cos., a commercial real estate investment firm based in Provo, Utah, has sold AVIA Sanctuary at Highland Mall to an undisclosed buyer. AVIA Sanctuary at Highland Mall is a newly converted development in Austin that previously operated as the Habitat Suites extended stay hotel. PEG Cos. purchased the property in 2020. The community now comprises 96 units and offers amenities such as a clubhouse, fitness center, co-working spaces and a pool.

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