RockFarmer Properties has expanded its presence in the Austin multifamily market with the acquisition of a 210-unit property located at 2201 Willow Creek Dr. This marks the company's third venture into the Austin market and the sixth acquisition made by its recently launched "Opportunity Fund V." The property, known as Sofia, is situated in the East Riverside sub-market, which is undergoing significant transformation to become a first-class, 24-7 mixed-use neighborhood.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: Not specified
• Units: 210
• Square Footage: 151,875
• Address: 2201 Willow Creek Dr
• Market: Austin

The seller of the property is Lion Real Estate Group and Marble Partners, while the buyer, RockFarmer Properties, was represented by Brian Getzler, George Michelis, and John Petras. The deal was facilitated by brokers Jim Young, Chase Easely, Matt Greer, and Andrew Wilson of Newmark.

Brian Getzler, Executive Vice President and Head of Acquisitions at RockFarmer Properties, expressed excitement about acquiring another high-quality multifamily community in Austin. The company has plans to renovate and improve the property to align it with other market-rate rental properties in the area. John Petras, Principal of RockFarmer Properties, highlighted the appeal of the East Riverside sub-market due to its proximity to the vibrant city of Austin.

Note from the buyer: In addition to Sofia, RockFarmer Properties purchased two other garden-style multifamily rental communities in Austin in 2021, namely SoNa Apartment Homes and Enclave at Waters Edge.