|
6/01/22
|
Brixton Capital has purchased the Royalton at Sunfield, a 300-unit apartment community located at 2825 Main St in Buda, TX, immediately south of Downtown Austin. The price was not disclosed price.
Built in 2021, the 276k sf property consists of 14 three-story buildings. The property is fully amentized with a pool, dog park, private office space, community kitchen and entertainment pavilion, tenant lounge and fitness center.
The property seller, Dallas-based SWBC, was represented by Will Balthrope, Jordon Featherston, Kent Myers and Taylor Hill of Institutional Property Advisors (IPA). Brixton represented itself in the transaction.
“We are continuing to focus our multifamily acquisitions on essential housing in major markets throughout Texas and the Western States,” said Brixton Capital President Mark Selman. “Our strategy reflects demographic trends showing a higher percentage of the population choosing to rent rather than purchase homes, in much greater numbers than previous generations.”
This trend is exemplified in Buda, a rapidly growing area of South Austin that is experiencing extraordinary job growth along the I-35 corridor between Austin and San Antonio.
In addition to rebranding the property as Ryze at Sunfield, Brixton is planning minor upgrades to the unit interiors. These will include the installation of washer/dryer units and a technology package with keyless entry, programmable remote thermostats and USB ports.
United Apartment Group (UAG), a San Antonio-based property management firm acquired by Brixton in 2020, will continue to manage the property.
|
|
Return to the Archive page
|
|
|
|
|