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Benjamin W. Schall Of AvalonBay Communities Inc. Acquires Multifamily Portfolio For $618.5M In Texas

Property Image
SOLD
$618,500,000

Texas

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MultiFamily
Sold 02/27/2025
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Property Image
SOLD

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

See Similar Deals
MultiFamily
Sold 02/27/2025
the dealdetailscomps

Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

AvalonBay Communities
AvalonBay Communities
BUYER
BR
BSR REIT
SELLER

Details

SOLD
IMAGE: - UNDER CONTRACT IMAGE: Benjamin W. Schall & Daniel Oberste DATE: 02/27/2025 ADDRESS: 3499 Ranch Road 620 South, 2323 Wolf Ranch Parkway, 705 Bray Central Drive, 11900 Research Road, 12050 Research Road, 301 Mercedes Street, 1980 State Highway 121 & 4141 Horizon North Parkway MARKET: Austin, Georgetown, Allen, Frisco, Benbrook, Lewisville & Dallas ASSET TYPE: Multifamily ~ UNITS: 2,701 BUYER: Benjamin W. Schall - AvalonBay Communities Inc. (@AvalonBayCommunities) SELLER: Daniel Oberste - BSR REIT PRICE: $618,500,000 UNITS: 2,701 ~ PPU: $228,989 NOTE: AvalonBay has agreed to pay $618.5M for eight apartment properties with 2,701 units in Dallas and Austin, doubling its Texas footprint. BSR plans to reinvest $190M into Houston and Dallas properties while continuing its value-add strategy in Austin.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$32,986,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$2,197,399.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,932,005.54
Annual Debt Service$35,184,066.53