AUSTIN–Newport Beach, Calif.-based MIG Real Estate has made its eighth investment in Texas multifamily and fourth Austin buy with the acquisition of Midtown Commons at Crestview Station, a mixed-use property consisting of 562 multifamily units and 58,883 square feet of commercial space in Austin.

“MIG is excited to add Midtown Commons at Crestview Station to its portfolio and was drawn to the opportunity due the unique character of the transit-oriented, mixed-use property,” Marc Venegas, director of multifamily investments at MIG Real Estate, told GlobeSt.com. “Having access to office, retailers and the on-site MetroRail station provides a pedestrian-friendly environment where our residents can live, work and play.”

The property is located in central Austin at 810 W. St. John's Ave., adjacent to the Crestview MetroRail Station and 16 minutes from the Downtown Austin station. Nearby, Rackspace, the San Antonio-based cloud computing company, is moving its Austin operations into a former Dillard's department store and The Domain, a 1.3 million-square-foot mixed-use retail destination, is four miles to the north.