RockFarmer Properties Expands Into Austin Multifamily Market With Acquisition Of 164-Unit Property

RockFarmer Properties, in collaboration with Wildhorn Capital, has acquired a multifamily property located at 7900 San Felipe Boulevard in Austin. The property spans an area of 120,160 square feet and comprises 164 units. The transaction took place on July 8, 2021, with George Michelis, John Petras, and Brian Getzler representing RockFarmer Properties in the deal.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Address: 7900 San Felipe Boulevard, Austin
• Market: Austin
• Square Footage: 120,160 sq ft
• Number of Units: 164

This acquisition marks RockFarmer's expansion into Texas, as part of their recently launched Opportunity Fund V. In addition to the property in Austin, RockFarmer also acquired two garden-style apartment communities, namely 98Fifty and Apex, in Dallas. The company has plans to further expand its commercial and residential portfolio in the Austin, Dallas-Fort Worth, and San Antonio markets.

Throughout 2021, RockFarmer aims to acquire additional value-add properties in these markets, as Brian Getzler, the Vice President of Acquisitions at RockFarmer, stated, "We believe there is great upside potential for multifamily developments like SoNA and look forward to implementing meaningful upgrades and enhancements to the property."

*This acquisition aligns with RockFarmer's strategy of capitalizing on the rapid growth of Austin and its prospects for employment opportunities, attracting individuals from across the nation.

This acquisition aligns with RockFarmer's strategy of capitalizing on the rapid growth of Austin and its prospects for employment opportunities, attracting individuals from across the nation.