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Austin Keeps Growing and Investors Keep Calling

The metro added 40,000 jobs last year which continued to boost construction, with rents increasing 4%, fueling multifamily acquisitions in the vein of Beck at Wells Branch in northern Pflugerville-Round Rock.

Hyde Park Hyde Park at Wells Branch is a 576-unit complex on a 29.3-acre parcel.

AUSTIN, TX—Hyde Park at Wells Branch is a 576-unit complex that was built in 1999. The property is comprised of 25 three-story buildings situated on a 29.3-acre parcel.

A Freddie Mac conventional multifamily loan in the amount of $55.24 million will finance the acquisition of the garden-style multifamily property. The financing, facilitated by Hunt Real Estate Capital, is a seven-year fixed-rate loan with an initial interest-only period of three years.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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