Barker Pacific Group Acquires Chesapeake Apartments Multifamily Community In Austin For $1.4M

The property asset involved in the transaction is a 124-unit multifamily community located at 12300 Hymeadow Drive in the Irving market. The property spans 4 acres and is set to undergo repositioning with a significant investment aimed at capital improvements totaling $1.4 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not specified
• Units: 124
• Acres: 4
• Buyer: Michael Barker, Will Dickinson & Alex Bacon - Barker Pacific Group
• Brokers: Forrest Bass - Walker & Dunlop
• Mortgage Broker: Alex Inman - Walker & Dunlop

Barker Pacific Group plans to enhance the property through renovations and upgrades, specifically targeting local tech employees and residents. The transaction involved key individuals from both the buyer's and broker's side, facilitating the deal within the Austin, Texas area.