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MC Companies Buys 455 Res Units in the Austin, TX Suburb of Pflugerville

11/05/21

MC Companies has purchased its third Texas multifamily community this year – The Sage at 1825 and Sage Cottages (“The Sage”), two adjacent properties totaling 455 units in the rapidly growing Pflugerville suburb of northeast Austin. MC Companies will deploy a robust renovation strategy at The Sage and rebrand the properties as The Place at 1825.

“The Sage represents a deep value-add opportunity where 94% of the units are in classic condition, offering a significant opportunity to renovate, modernize and rebrand as The Place at 1825,” said MC Companies Director of Acquisitions Bobby Bull. “This makes for an ideal new addition to our growing portfolio and a strong long-term acquisition for our investors, in a market where we see high job growth and high demand for housing.”

Located at 15835 Foothill Farms Loop in Pflugerville, The Place at 1825 will offer studio, one-, two- and three-bedroom floorplans ranging from 690 sf to 1.4k sf. Amenities include a resort-style swimming pool, main clubhouse, business center, fitness center, soccer field, on-site dog park and playground.

Apartments feature hardwood floors, arched entries and private interior staircases. Select units feature fireplaces and walk-in closets, and a mix of carport, attached and detached garage options.

The MC Companies renovation plan will upgrade kitchens, bathrooms, fixtures and appliances, modernize exteriors and common areas, and add contemporary features such as Amazon storage lockers to reflect the expectations of residents in the metro Austin market.

The community offers convenient access to Tollway 130 and Interstate 35, and major employment centers such as Parmer Center, La Frontera and Tech Ridge Center. It is also just 20 minutes from a planned $17 bil Samsung Electronics chip plant expected to generate thousands of new jobs.

Acquisition of The Sage was made possible by an equity portion from MC Companies and its investors. The CBRE Debt/Equity team of Michael Thompson and Frances Rodgers arranged the debt financing. CBRE’s Charles Cirar, Michael Wardlaw, Colin Cannata and Connor Moore served as the property listing broker.

The Sage is the third multifamily asset purchased in Texas this year by MC Companies. It is part of Operation 25K, designed to grow the MC portfolio from 6,000 to 25,000 units under ownership by 2029. With its acquisition of The Sage, total units under ownership and management by MC Companies now totals approximately 7,000.




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