Starwood Capital Group acquires opportunity zone development in Austin
Starwood Capital Group has reached an agreement to acquire and develop a 342-unit garden-style multifamily project in East Austin, Texas.
“We are thrilled to add this development to Starwood’s growing Opportunity Zone portfolio, and we are excited to expand our footprint in the attractive Austin market,” said Anthony Murphy at Starwood Capital Group. “Austin has experienced significant population growth and positive demographic trends, and we believe East Austin presents an attractive opportunity to meet the growing demand for high-quality housing with Class A amenities and finishes. With convenient access to Austin’s expanding job centers and entertainment district, this project will appeal to a wide pool of renters and will be a valuable addition to the Starwood portfolio.”
Starwood expects to complete the oppo