Monday, September 23, 2013

Need: Pre-1990 MF Purchase-City of Austin- up to $30M (x3)-Repeat Client-Seeking Immediately

My client is a repeat client who recently sold $100M+ of his own MF units in California to an overseas investment group. That overseas group seeks to acquire 3 or more, up to $30M (per site) Multifamily assets in Austin, Texas. The sites MUST  be built prior to 1990 due to a tax ruling in the Buyer/host country which gives favorable depreciation to the Buyers.


Acquisition Criteria:

·         MF- $5-$7M up to $30M per site, &  seek to purchase 3 sites.

·         Inside City Limits of Austin

·         Built PRE 1990

·         Ideally- already remodeled in recent past. Class C – ok, but these are not 'value add' buyers. They will pay a premium for fully remodeled and stabilized sites.  If good property management in place, Buyer is willing to keep them in place.

·         In California, Buyer paid 4.5% cap.  The group is willing to pay better than typical cap rates to Seller in Austin for the right product.


Our colleague meets with the Buyer group in person, overseas, on 9-30


Please contact us with any properties that meet these criteria.


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