G. Nelson Crowe III And Blair Richardson Acquire 362-Unit Multifamily Complex In Austin For $45.8M
7205 East Ben White Boulevard
Building Size
—
Asset Type
MultiFamily
Closing
Sep 19, 2025
AI
A multifamily garden-style apartment complex named Veranda, consisting of 362 units, was recently acquired in Austin. The property spans 12 acres and is located at 7205 East Ben White Boulevard. For tax purposes, it holds a market value of $45.8 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $45.8 million
- Units: 362
- Acres: 12
- Buyer: G. Nelson Crowe III - Missio Capital; Blair Richardson - Bow River Capital
- Seller: Wayfinder Real Estate
- Broker: Newmark
G. Nelson Crowe III represents Missio Capital, while Blair Richardson represents Bow River Capital in this transaction. The buyers acquired the property from Wayfinder Real Estate with the assistance of Newmark as their broker in the deal.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93