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Silverstone Partners buys value-add multifamily community in Austin
Transactions - MARCH 29, 2022

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Silverstone Partners buys value-add multifamily community in Austin

by Released

Silverstone Partners has acquired SeventyTwo 27 Apartments, a value-add multifamily community located in the Windsor Park neighborhood of Austin. The seller and the financial terms were not disclosed.

The acquisition of the property is aligned with Silverstone's investment strategy to acquire multifamily communities with meaningful value-add upside potential in high-growth U.S. markets.  Originally constructed in 1984, the property comprises 160 apartment units across 10 garden-style buildings on five acres and includes studio, one-bedroom and two-bedroom layouts.

Silverstone has plans to renovate the property, including a resort-style pool and other community amenities.

Austin is one of the fastest-growing major metros in the United States, with the city's expansion driven by a large and rapidly growing technology sector and significant in-migration of new residents.  These dynamics are creating significant tailwinds for multifamily real estate, further suppo

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