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2801 Wells Branch Parkway

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

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

Joe Lubeck

American Landmark Apartments

Broker

$627.8M

vol

16 deals

Broker

Alan Pollack

Providence Real Estate Group

Buyer

$249M

vol

5 deals

Buyer
Joe Lubeck

Joe Lubeck

Electra America

Seller

$627.8M

vol

16 deals

Seller

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