AUSTIN, Texas–NCUA has listed for sale the building that had been the long-time home to its Asset Management and Assistance Center (AMAC), which at times in its history was among its busiest of offices.
The building at 4807 Spicewood Springs Road in Texas’ picturesque Hill Country in Northwest Austin, is listed for $1.5-million. It contains 18,135 gross square feet of interior space, as well as a 17.57% interest in the common elements that include 8.158 acres.
The building was built in 1985 and has two floors. The listing for the building, including additional photos and a 3-D tour, can be found here.
AMAC currently operates out of different office space in Austin.
‘Lush Greenery’
“The area is surrounded by lush greenery and rolling landscapes, making it a haven for nature enthusiasts,” reads the property description on realestatesales.gov. “Nearby parks and trails, such as the Bull Creek Greenbelt, offer opportunities for hiking, biking, and exploring the outdoors, all within minutes of the property. The peaceful environment is complemented by the convenience of being just a short drive from Austin’s vibrant urban core, where you can enjoy world-class dining, shopping, and entertainment.”
What AMAC Does
NCUA says the AMAC is responsible for monitoring, evaluating, disposing, and/or managing major assets acquired by the agency; responsible for managing involuntary liquidations for all federally insured credit unions placed into involuntary liquidation, including the orderly processing of payments of share insurance, sale and/or collection of loan portfolios, liquidation of other assets and achieving other recoveries, payments to creditors, and distributions to any uninsured shareholders.
An Economic Bellwether
The AMAC has always been a bellwether for the overall state of the economy and credit unions, and at times in its history has had to deal with enormous portfolios of assets, including subdivisions full of homes, such as during the mortgage and housing crisis of 2008-09.
In 2022, the NCUA board moved the AMAC activities from the Southern Region to an independent office led by the president of AMC.
