Brandon Allen Of Fortum Ventures And Doug Wiley Of Quannah Partners Acquire Retail Building In Austin
1612 South Congress Avenue
Building Size
6,000 SF
Asset Type
Retail
Closing
Feb 25, 2026
About this deal
AI
A joint venture between Fortum Ventures and Quannah Partners acquired a retail building at 1612 South Congress Avenue in Austin, Texas. The structure, built in 1935, has a square footage of approximately 6,000 and is set for adaptive reuse and expansion to about 10,700 square feet as part of the redevelopment strategy near downtown Austin.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Square Footage: 6,000
- Address: 1612 South Congress Avenue
- Market: Austin
- Buyer: Brandon Allen - Fortum Ventures
- Buyer: Doug Wiley - Quannah Partners
Brandon Allen and Doug Wiley played significant roles as representatives of their respective companies in this transaction, which marks a strategic move towards enhancing the property's value through planned redevelopment.
On the Map
Retail
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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