Disrupt Equity recently announced the closing of Array Apartments, a 369-unit Class-B+ multifamily asset in Austin.

Array Apartments was built in 1973 and features 369 one- to three-bedroom units. Current ownership has upgraded 100+ units with white cabinetry, white and black speckled granite countertops, and stainless steel/black appliances. Disrupt Equity has identified Array Apartments as well positioned to capitalize on a substantial and proven value-add strategy to renovate 100+ remaining classic units, as well as elevate another 100+ units to a higher level fit and finish and upgrading and the property’s amenity package to cater to the high-tech young professional demographic to capture the additional rent premiums that the fully renovated units at Array are already recognizing.

The Array Apartments community offers a variety of resident amenities, including a resident clubhouse, yoga studio, spin room, fitness center, business center, sport court, two resort-style swimming pools, two bark parks with dog wash, on-site laundry facilities, courtyard, bike racks, and barbecue/picnic areas.

The property is located on Burton Drive between Riverside Drive and Oltorf Road, a quick access to I-35, which provides unmatched accessibility to the Austin Central Business District, one of Austin’s most desirable areas with unlimited nearby entertainment and dining options. Oracle’s 27-acre corporate headquarters is five minutes from Array where it operates a 560,000 square-foot campus and is home to over 6,000 employees. Additional employers in the area include Austin-Bergstrom International Airport, Austin Energy, and Tokyo Electron.

The Property’s submarket holds bullish demographics and submarket rent growth/ The median home price in the 78741 zip code has increased 29.5% year-over-year, creating unprecedented demand for more attainable rental options. Rent growth over the previous 12 months for the Southeast Central submarket totaled a staggering 29%, and the occupancy in the submarket is now 95%.

The asset will be managed by Disrupt Management, Disrupt Equity’s in-house multifamily property management firm that currently manages over 500 units in the Austin market.

South Texas Pizza, Inc. d/b/a Domino’s Pizza renewed 2363 square feet at 5332 Walzem Road in San Antonio, Texas. Wil Logan represented the landlord, Hartman Income REIT.

San Antonio, TX (August 18, 2022) — Newmark announces the sale of Viva Max, a 240-

unit value-add multifamily asset located in northwest San Antonio, Texas. The property traded from Pradeep Mistry to River Rock Capital, a private multifamily investment firm focused on properties in New Jersey and Texas. Senior Managing Director Jim Young and Director Chase Easley represented the seller. This sale represents the Newmark team’s fourth transaction selling to River Rock Capital over the past year, with the buyer’s other recent acquisitions including Broadstone Oak Hills, Hawthorne House and Alamo Park.

“Viva Max presented investors with an outstanding value-add opportunity that was attractive to both private and institutional buyers,” said Young. “The transaction was completed via a Freddie Mac loan assumption with loan terms superior to current market offerings. This asset will be a great addition to the buyer’s growing San Antonio portfolio.”

Viva Max is a garden-style apartment community located at 3631 Callaghan Road in northwest San Antonio. The property features a mix of one- and two-bedroom units with an average unit size of 733 square feet. Unit interiors offer walk-in closets, framed bathroom mirrors, ceiling fans, window coverings and faux hardwood floors and black appliances in select units. Community amenities include gated entry, pool with sundeck, private clubhouse, picnic area, playground, laundry facility and package service. The property was 98.4% occupied at the time of sale.

Located in northwest San Antonio, Viva Max benefits from a desirable location proximate to the city’s largest employment hubs. The property is surrounded by several major corporate campuses and data centers including Westover Hills, the South Texas Medical Center, UT Health San Antonio, University Health System, Methodist Healthcare Systems and Amazon. Viva Max is also proximate to an abundance of mixed-use, retail and entertainment destinations including the future Vicinia Transit-Oriented Development, Ingram Mall, Westover Marketplace, Alamo Ranch, Culebra Market and multiple theme parks, golf courses and parks.

Following a record 2021, investor demand for multifamily remained robust during the first quarter of 2022 with $63.0 billion in U.S. sales volume, according to Real Capital Analytics data analyzed by Newmark Research. In addition to this volume signifying the largest first quarter on record, year-over-year volume accelerated 65.4%. Trailing twelve-month volume increased to $374.3 billion. Remarkably, major markets in Florida and Texas accounted for 27.3% of total volume over the past 12 months

Austin, TX (August 16, 2022) — On behalf of Generational Commercial Properties and Fairway Real Estate, Newmark has arranged the $124 million construction financing of Zilker Point, a 206,000-square-foot future office building at 218 South Lamar Boulevard in Austin’s South Lamar CBD. The project will improve the 1.26-acre site, which is currently occupied by a one-story restaurant and paved parking areas.

Upon completion, the property will offer 192,000 square feet of office space across its top six floors, plus 15,000 square feet of retail and amenities on the ground floor, with 635 parking spaces. The property is designed to be WELL building-certified with shared and private outdoor spaces, a tenant fitness center and advanced building systems.

The Newmark team was led by Dustin Stolly and Jordan Roeschlaub, Vice-Chairmen and Co-Heads of the Newmark Debt & Structured Finance team, Senior Managing Directors Nick Scribani and Chris Kramer, and Directors Chase Tagen and Dan Morin. MSD Partners provided the loan.

The developer is positioning the boutique office product to meet the current tenant demand in a premier location. The property will provide Class A office space while offering a highly commuter-friendly office location for the burgeoning professional population in Downtown and South Austin. This asset is prominently located along South Lamar Boulevard and near Barton Springs Road. Its location serves as a nexus for Austin’s live/work/play lifestyle with immediate access to the South Lamar corridor, the downtown employment hub, Zilker Park, Lady Bird Lake and the iconic Austin neighborhoods of Zilker, Bouldin Creek and Travis Heights.

Austin has become a top choice for company migrations and has experienced a 67% increase in Class A rents since 2008. The highly coveted Central and Southern CBD areas have witnessed Class A occupancy remaining above 91% since 2014, absorbing over 3 million square feet of space. The area has a strong concentration of blue-chip technology companies, driven by Google, Indeed, Amazon, Apple, HP, Dell, Facebook, Tesla, and Oracle.

Led by founder Joe Llamas, Generational is a real estate development firm specializing in office, industrial and multifamily projects. Generational develops innovative Class A real estate that incorporates innovative designs, leading technology and culture into the fabric of projects. The firm focuses on functional, institutional quality and infill real estate in Texas. Through a depth of principal knowledge, Generational also provides development management services to corporate clients. Through a unique perspective, based on years of principal transactions, Generational’s approach navigates the governmental, contractual, design, construction and delivery of high-quality real estate with a proven approach to reduce cost, increase quality and improve delivery speed.

Lizzy Mahan
Public Relations & Communications Director
NEWMARK
t 303-260-4437
lizzy.mahan@nmrk.com

Austin, TX (Aug 17, 2022) — Newmark announces the sale of Barton Creek Villas, a 250-unit value-add townhome community in the heart of Austin, Texas’ Hill Country. The asset traded from The Connor Group to a Goldman Sachs Asset Management Real Estate managed investment vehicle. Newmark Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the seller in the transaction. Notably, this is the Newmark team’s third time selling this asset, after prior sales in 2012 and 2016.

Built in 1998, Barton Creek Villas is a unique, low-density, two-story townhome community featuring a mix of one-, two- and three-bedroom units with a large average unit size of 1,049 square feet. Community amenities include a pool with private cabanas and outdoor grilling station, a clubhouse with coffee bar and WiFi, a fitness center, a dog park with agility course, attached garages and on-site walking trails. The property was 99% occupied at the time of sale.

“Barton Creek Villas presented investors with an outstanding opportunity in the affluent and highly desirable Southwest Austin submarket,” said Jones. “Buyer interest was very strong as investors were intrigued by the high barriers to entry for new development as well as some of the best demographics in the city. Barton Creek Villas will be an excellent addition to Goldman Sachs’ real estate holdings in Austin.”

Situated in the hills of west Austin, Barton Creek Villas is in one of Austin’s most affluent gated neighborhoods, Barton Creek. It is located just six miles west of downtown, in a 4,000-acre green valley that winds along the Barton Creek Greenbelt and provides views of and access to the surrounding Texas Hill Country. Barton Creek offers upscale amenities, including a country club with four golf courses and top-rated public and private schools.

The Austin metro’s population rose to an estimated 2,295,303 people as of July 1, 2020, according to U.S. Census Bureau figures released May 2021. This is an increase of 3% from the previous year, the fastest population growth among metros with at least one million people. Since 2010, the metro has gained an estimated 579,014 residents – a 34% increase. Austin’s innovation-based economy and high-caliber talent pool, combined with a comparably low cost of living, business-friendly environment, established infrastructure, and stable local and state governments, continue to secure accolades lauding Austin’s appeal to both residents and businesses that position the region for enduring economic and population growth.

Press Contact: Lizzy Mahan t 303-260-4437 lizzy.mahan@nmrk.com

Gateway Mortgage Group renewed 2,310 SF at 8610 & 8620 North New Braunfels BLDG 8610 in San Antonio, Texas. Alex Baithe with Blue Star CRE represented the tenant and Kacie Skeen represented the landlord, Hartman Income REIT.