DB Capital Makes Largest Austin Deal To Date
January 29, 2021
Multifamily investment firm DB Capital Management has made its largest investment in Austin to date, acquiring a three-property apartment portfolio totaling 422 units. The properties in North Austin were built between 1980 and 1984 and are located within a 1.5-mile radius from one another at 1200 Mearns Meadow, 1804 Rundberg Ln. and 1735 Rutland. Occupancy across the portfolio was 95% at closing.
Since entering the Austin market in 2018, DB has grown its local portfolio to 724 units and plans to continue building scale over the next 12-18 months, said Hunter Graul, VP of acquisitions, who heads the firm’s Austin office.
“The portfolio’s proximity to our other assets in North Austin, combined with our growing influence in the market, provides us an opportunity to achieve synergy through economies of scale,” said Graul.
CBRE’S Michael Wardlaw, Charles Cirar and Colin Cannata marketed the property for the undisclosed seller.
Source: Connect Texas