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9/11/25
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Missio Capital and Bow River Capital have acquired Veranda, a 362-unit trophy multifamily property in downtown Austin, TX. The property, located at 7205 E. Ben White Blvd, west of Hwy 183, was sold by Wayfinder Real Estate.
Completed in 2024, Veranda is a garden-style multifamily community offering a mix of one-, two- and three-bedroom apartments and townhomes, with an average unit size of 802 sf. Amenities include a pool, covered outdoor space with grilling and seating areas, a game room and a state-of-the-art fitness center.
Veranda is located near Austin’s East Riverside Corridor, less than four miles from downtown and close to major employers including Oracle, Tesla, Google, Meta and the University of Texas. The property offers frontage along Highway 71 between I-35 and Highway 183, and is also near the Austin-Bergstrom International Airport.
Patton Jones and Andrew Dickson with Newmark represented the seller, in the deal. Adam Randall and John Westby-Gibson, also with Newmark, secured the debt financing on behalf of the buyers. The price was not immediately disclosed.
“Investors were intrigued by Veranda’s extremely high-quality product and location relative to the CBD, East Austin and Tesla’s Austin headquarters,” said Jones. “The community benefits from phenomenal drive-by visibility and easy access to some of Austin’s biggest economic development nodes.”
According to Newmark Research, multifamily supply in Austin is projected to decline significantly by 2026, with roughly 18,000 units under construction, approximately 65% below the peak seen in Q1 2023. The market reported several positive developments in Q2 2025, including improved occupancy, reduced excess supply and strong year-to-date absorption of over 12,000 units, suggesting that market stability has been established and that a broader recovery is underway.
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