Updated May 12, 2025
Benjamin W. Schall Of AvalonBay Communities Inc. Acquires Multifamily Portfolio For $618.5M In Texas
3499 Ranch Road 620 South, 2323 Wolf Ranch Parkway, 705 Bray Central Drive, 11900 Research Road, 12050 Research Road & 301 Mercedes Street
$618,500,000
Units
2,701
Asset Type
MultiFamily
Closing
Feb 27, 2025
About this deal
AI
The transaction involves eight apartment properties located in the markets of Austin, Georgetown, Allen, Frisco, Benbrook, Lewisville, and Dallas. The total price for the properties is $618,500,000, comprising 2,701 units with a price per unit of $228,989.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $618,500,000
- Buyer: Benjamin W. Schall - AvalonBay Communities Inc.
- Seller: Daniel Oberste - BSR REIT
- Total Units: 2,701
- Price Per Unit: $228,989
AvalonBay Communities Inc. will double its Texas footprint through this acquisition. In parallel, BSR REIT intends to reinvest $190,000,000 into properties in Houston and Dallas while pursuing a value-add strategy in Austin.
On the Map
$618,500,000
MultiFamily
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Austin MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93