IMAGE: John Petras, George Michelis & Brian Getzler
ADDRESS: 12330 Metric Blvd
ASSET TYPE: Multifamily ~ UNITS: 184 ~ SF: 136,750
BUYER: RockFarmer Properties (@RockFarmerProperties) - George Michelis, John Petras, & Brian Getzler (@BGetzler) & Wildhorn Capital (@WildhornCapital)
BROKERS: Patton Jones, Andrew Dickson, Matt Greer, & Andrew Wilson - Newmark
NOTE: This transaction marks RockFarmer Properties’ second venture into the Austin,TX, multifamily market – and marks the fourth TX acquisition made by RockFarmer’s recently launched “Opportunity Fund V.” Previously, in July, 2021, the company purchased SoNA Apartment Homes, a garden-style multi-family rental community in Austin, TX. RockFarmer Properties plans additional acquisitions of value-add commercial and multi-family assets across the Dallas-Fort Worth, Austin and San Antonio, TX, markets.
“With major tech companies opening or relocating offices in Austin, the city is experiencing meteoric growth. Austin’s ample opportunities for employment attract people from across the country. We are bullish on value-add multifamily developments located in cities experiencing continued growth like Austin,” said Brian Getzler, Executive Vice President and Head of Acquisitions at RockFarmer Properties.
“We are delighted to team up with Wildhorn Capital again – an incredible owner/operator in the Austin market – on the acquisition of Enclave at Waters Edge,” said George Michelis, Principal of RockFarmer Properties. “We look forward to continued success.”
“Enclave at Waters Edge is a well-located rental community with a lot of upside potential. We find such properties to be excellent investments,” said John Petras, Principal of RockFarmer Properties. “We plan to be an extremely active investor in value-add commercial and multifamily assets in the Austin, Dallas-Fort Worth and San Antonio Texas for the foreseeable future.”
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