Bader Acquires 276-Unit Adair Onion Creek Multifamily In Austin From Steven DeFrancis

The property involved in this transaction is a multifamily asset located at 1900 Onion Creek Parkway in Austin. It encompasses 276 units within a total square footage of 24,780 and spans 14 acres. The asset was recently sold, and it is significant within the current market context of Austin, where multifamily investment activity is rebounding but remains below historical averages.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not specified
• Buyer: Bader
• Seller: Steven DeFrancis - Cortland
• Financing: Mesa West Capital
• Year Built: 2016
• Market: Austin
• Units: 276
• Square Footage: 24,780
• Acres: 14

Cortland sold the 276-unit community, known as Adair Onion Creek, as part of a deal connected to the firm’s earlier acquisition of Pure Multi-Family REIT in 2019 for $1.2 billion. The transaction reflects the ongoing trends observed in the multifamily housing sector within Austin.