Alan Pollack Of Providence Real Estate Acquires 576-Unit Beck At Wells Branch In Austin
2801 Wells Branch Parkway
Units
576
Asset Type
MultiFamily
Closing
Aug 5, 2026
AI
The multifamily asset involved in this transaction is located at 2801 Wells Branch Parkway in Austin, Texas. The property encompasses a total of 576 units. The multifamily community has previously undergone a $4 million upgrade, with plans for a new value-add renovation program by the buyer following this acquisition.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 576
- Address: 2801 Wells Branch Parkway
- Market: Austin, TX
- Buyer: Alan Pollack - Providence Real Estate
- Seller: Joe Lubeck - Electra America; Matt Avital - Ascenda Capital
The transaction marks Providence Real Estate's entry into the Austin market. The sellers, Electra America and Ascenda Capital, had previously acquired the property in 2019 as part of a larger portfolio transaction valued at $311 million.
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