"The joint venture's plan moving forward is to be an aggressive, hands-on-manager of the asset, significantly enhancing customer service and the resident experience/connectivity through creative social events," Turner tells GlobeSt.com. "This can and will be achieved in part because of the size and scope of F&B's portfolio throughout Texas including San Antonio."

Developed in 2015, the construction and amenities of Anatole are closely comparable to new projects that are currently being developed. Residences are comprised of 148 one-bedroom, one-bathroom units; 96 two-bedroom, two-bathroom units; and 6 three-bedroom, two-bathroom units. The apartments are equipped with upgraded appliances, wood cabinets, islands, granite countertops and in-unit washers and dryers.

"The newly developed, well-located Anatole at Westinghouse essentially allows us to achieve value-add returns with a core to core-plus risk profile," adds Josh Kahn, VP of investments, F&B Capital. "In future years we may renovate the asset as warranted by age and competition, or sell to a value-add buyer if today's market conditions persist."

The complex sits on a 13-acre site. Among the on-site amenities of the gated community with two entrances are a swimming pool with an outdoor cabana and grilling kitchen, a clubhouse and fitness center, a dog park, and a leasing and business center.

"The complex is operating at a strong occupancy in the mid 90% level, with room for further leasing activity and rental rate growth," Turner tells GlobeSt.com. "Because the complex is relatively new, significant capital improvements and upgrades aren't necessary in the immediate term. However, because of the investment strategy that calls for the property to be held longer, improvements/upgrades could be needed and managed over time."

Anatole at Westinghouse is located directly off of Westinghouse Road, a major arterial that connects Interstate 35 and Toll Road 130. This location makes the property easily accessible to both Austin and Fort Hood. The property is in proximity to significant employment centers and businesses that include Dell, Emerson, St. David's, Baylor Scott & White and Seton Hospitals. The property is also near university and education centers that include Southwestern University, Texas State University RoundRock, Texas A&M Health Sciences Center and Austin Community College.

With its location in the path of progress, Anatole at Westinghouse benefits from additional development that is taking place in the area. The apartment complex is just north of the 1,500-acre master-planned community, Terravista, which features single-family homes as high as $700,000 and an 18-hole championship golf course. There is a variety of retail nearby including Round Rock Premium Outlets, a shopping center with more than 1 million square feet of space.

Moreover, Georgetown's newest master-planned development, Longhorn Junction is located immediately north of the property. The 284-acre development is anchored by a $450 million data center owned by Citigroup Inc. And, well-known Texas grocer, H-E-B, plans to build on a 21-acre site in the northwest corner of the development, which upon buildout, will be surrounded by extensive retail and commercial users.