Dick Obenhaus, the new partner, has specialized in the multifamily-condominium markets and has more than $20 million in land sales annually for the last five years. He will maintain his partnership with First Austin Properties. His recent deals include representing the land buyer for the Post West Phase One at 300 West Ave., Post West Phase II and Austin City Lofts, both at 800 West Fifth.

"Dick's combined expertise in brokerage and investment along with his local presence will be a tremendous asset to our company in the Austin/San Antonio markets-markets we feel to be rich with opportunities," Jeff Price, the Apartment Group's president and founder, said in a prepared statement. The Apartment Group, founded in 1991, represents owners in the sale of multifamily properties.

Before First Austin Properties, Obenhaus was president of FFB Realty Corp., a subsidiary of Franklin Federal Bancorp. FFB was responsible for marketing assets acquired by Franklin under the US government-assisted Southwest Plan. Obenhaus sold about 1,000 properties with a combined book value of more than $1 million while at FFB.