AUSTIN, TX—SWBC Real Estate, in a partnership with International Capital LLC, has acquired Falconhead Apartments from Connell Real Estate & Development Company. The purchase price was undisclosed.
The property is located on Ranch Road 620 in west Austin near Lake Travis. Falconhead was 94% occupied at the time of closing.
During the past few years, the seller invested approximately $4 million into the property. The acquisition is part of SWBC Real Estate's value-add investment program. In the coming months, SWBC Real Estate plans to further upgrade the rental units, bringing the property up to today's standards.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.