Alan Pollack Of Providence Real Estate Acquires 576-Unit Beck At Wells Branch In Austin

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.