SOLD
RockFarmer Properties Acquires Enclave At Waters Edge Multifamily In Austin, TX
12330 Metric Boulevard
MultiFamily
136,750 SF
136,750 SF
Sold 1 year ago
Summary
Sale
TEXAS
MultiFamily
136,750 sqft
The Enclave at Waters Edge, a multifamily property located at 12330 Metric Blvd in Austin, was recently sold in a transaction. The property consists of 184 units with a total square footage of 136,750. The sale was facilitated by brokers Patton Jones, Andrew Dickson, Matt Greer, and Andrew Wilson from Newmark. The transaction took place on October 14, 2021, and the buyer is RockFarmer Properties, represented by George Michelis, John Petras, Brian Getzler, and Wildhorn Capital.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not mentioned
- Market: Austin
- Units: 184
- Square Footage: 136,750
This transaction marks RockFarmer Properties' second venture into the Austin multifamily market. It is also their fourth acquisition in Texas made by their "Opportunity Fund V." In July 2021, the company purchased SoNA Apartment Homes in Austin. RockFarmer Properties plans to acquire more value-add commercial and multifamily assets in the Dallas-Fort Worth, Austin, and San Antonio markets.
Brian Getzler, Executive Vice President and Head of Acquisitions at RockFarmer Properties, expressed confidence in the Austin market due to the city's rapid growth and the presence of major tech companies. George Michelis, Principal of RockFarmer Properties, expressed delight in partnering with Wildhorn Capital for the Enclave at Waters Edge acquisition and looks forward to continued success. John Petras, Principal of RockFarmer Properties, highlighted the potential of well-located rental communities like Enclave at Waters Edge as excellent investments and announced their plans to actively invest in value-add commercial and multifamily assets in Austin, Dallas-Fort Worth, and San Antonio.
Players
Details
SOLD
IMAGE: John Petras, George Michelis & Brian Getzler
DATE: 10/14/2021
ADDRESS: 12330 Metric Blvd
MARKET: Austin
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.”View on map
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Address12330 Metric Boulevard
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