AUSTIN, TX—FourPoint Investments has completed the sale of a 33-property, 810-unit value-add portfolio in the East Riverside neighborhood.
The property portfolio consists The Zone, The Edge and The Ion at East End. Co-founders Chris Epp and Chris Bancroft, lead the sales efforts along with directors Meredith Wolff and Kevin Dufour.
The firm did not disclose the prices on this transaction but said that the sale marks $100M in Austin multifamily sales for Austin-based FourPoint in the last six months. The, buyer is Nimes Capital from California. Nitin Chexal, director with Nimes lead the acquisition effort.
“FourPoint Investments did an excellent job working with us and the seller on this transaction,” Chexal said. “Their market knowledge allowed us to get comfortable with such a large play in Austin.”
Epp added: “Austin multifamily fundamentals continue to be some of the best in the United States. Almost all serious multifamily players have an eye for the Lone Star State, and in particular Austin.”
Bancroft said: “East Riverside is the most dynamic neighborhood in Austin right now. Ten to fifteen years from now, we will not recognize the area as it is today. FourPoint Multifamily Investments is a full-service investment sales company with a dedicated focus on the Central Texas market.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
