Austin HOUSE, Austin, Texas
Background
- Inefficient positioning of properties within a desirable neighborhood
- Attractive investment window for C+ multifamily properties
- Promising local demographic and economic trends
- Asset class and location near major university provide recession-related downside protection
Investment Program
- Worked with strong local development partners and local experts to reposition properties
- Devised and implemented careful redevelopment & capital expenditure program for exterior, unit interiors and courtyard to correspondingly increase property values
Highlights
- Serves vibrant nearby University of Texas campus population
- Investment has helped to beneficially transform the local neighborhood by redefining aging multifamily complexes
- Assets provide steady cash flow in a market that has outperformed all in the US since acquisition
