RockFarmer Properties Acquires Enclave At Waters Edge Multifamily In Austin, TX

The Enclave at Waters Edge, a multifamily property located at 12330 Metric Blvd in Austin, was recently sold in a transaction. The property consists of 184 units with a total square footage of 136,750. The sale was facilitated by brokers Patton Jones, Andrew Dickson, Matt Greer, and Andrew Wilson from Newmark. The transaction took place on October 14, 2021, and the buyer is RockFarmer Properties, represented by George Michelis, John Petras, Brian Getzler, and Wildhorn Capital.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: Not mentioned
• Market: Austin
• Units: 184
• Square Footage: 136,750

This transaction marks RockFarmer Properties' second venture into the Austin multifamily market. It is also their fourth acquisition in Texas made by their "Opportunity Fund V." In July 2021, the company purchased SoNA Apartment Homes in Austin. RockFarmer Properties plans to acquire more value-add commercial and multifamily assets in the Dallas-Fort Worth, Austin, and San Antonio markets.

Brian Getzler, Executive Vice President and Head of Acquisitions at RockFarmer Properties, expressed confidence in the Austin market due to the city's rapid growth and the presence of major tech companies. George Michelis, Principal of RockFarmer Properties, expressed delight in partnering with Wildhorn Capital for the Enclave at Waters Edge acquisition and looks forward to continued success. John Petras, Principal of RockFarmer Properties, highlighted the potential of well-located rental communities like Enclave at Waters Edge as excellent investments and announced their plans to actively invest in value-add commercial and multifamily assets in Austin, Dallas-Fort Worth, and San Antonio.