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SPI Advisory acquires 264-unit multifamily community in suburb south of Austin, Texas
SPI Advisory and its 1031 partners finalized the acquisition of The Bradford, a 264-unit, class-A, institutional-quality, value-add apartment community built in 2010 in the high-growth suburb of Buda, Texas.
The area within a three-mile radius of The Bradford experienced a 159 percent increase in population during the past decade, but Hays County has been identified as one of the fastest-growing counties in both Texas and the nation, according to the U.S. Census Bureau.
“Our intimate knowledge of the submarket coupled with the rapid growth of Hays County has us extremely bullish on the long-term potential of The Bradford,” said Michael Becker, principal at SPI Advisory. “We find the combination of the relative affordability of the Buda market compared to the northern Austin suburbs, coupled with its proximity to the core of Austin to be a winning formula. We see the tremendous growth around The Bradford continuing for decades to come and we want to be along for t