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7205 East Ben White Boulevard

G. Nelson Crowe III And Blair Richardson Acquire 362-Unit Multifamily Complex In Austin For $45.8M
SOLDMultiFamily

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

Blair Richardson

Bow River Capital

Buyer

4 deals

Buyer
Missio Capital
Missio CapitalBuyer

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