Completed
Austin, TX
J Bouldin Condominiums
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Property Overview
The Opportunity
Sourced off-market, acquired infill 1.41 acres from the Boys & Girls Club of Austin to develop a 38-unit luxury condo development off S. Congress in Austin, TX. Designed and permitted the project which included 5 townhomes, 30 flats units, and 3 units converted from the existing church structure. After contracting to sell 76% of units, sold the permitted project to infill condo developer to complete. Strong demand for infill condos in the area combined with virtually no new supply due to compatibility setbacks made this a rare three story development opportunity.
Competitive Advantage
Lessons Learned
Property Location
Documents & Financials
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Related Articles
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Investment Summary
Property Type:
Condominiums
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Strategy:
Ground Up Condo Development
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Address:
211 W Johanna St, Austin, TX 78704
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Investment Date:
June 1, 2014
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Est. Hold Period:
2.2 Years
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Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Est. Exit Cap Rate:
N/A
Investor Preferred Return:
N/A
Property Type:
Condominiums
N/A
Strategy:
Ground Up Condo Development
N/A
Address:
211 W Johanna St, Austin, TX 78704
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Investment Date:
June 1, 2014
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Disposition Date:
August 1, 2016
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Hold Period:
2.2 Years
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Realized IRR:
15%
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Equity Multiple:
1.37 X
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Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Exit Cap Rate:
N/A
Realized Investor Return:
N/A
Property Type:
Condominiums
N/A
Strategy:
Ground Up Condo Development
N/A
Address:
211 W Johanna St, Austin, TX 78704
N/A
Investment Date:
June 1, 2014
N/A
Disposition Date:
August 1, 2016
N/A
Hold Period:
2.2 Years
N/A
Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Cap Rate at Close:
N/A
Realized Investor Return:
N/A
Residential
Algarita Lakeside
San Antonio, Texas
Value-Add Multifamily Acquisition of 293-units from distressed Tenant-In-Common "TIC" partnership.
Residential
Property Type:
Multifamily
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Property Type:
Multifamily
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Property Type:
Multifamily
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Land
Govalle
Austin, TX
Acquisition 2+ acres in East Austin to subdivide into single-family lots.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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Land
12th & Hargrave
Austin, TX
Acquired 5.78 acres at a foreclosure auction in East Austin for future townhome development.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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Land
Decker
Austin, TX
Acquired 58 acres off Decker Lane in East Austin. The acquisition was part of a land assemblage with multiple sellers. During entitlement, we subdivided the land selling a tract to our northern neighbor and retaining ownership of an industrial tract, and 20 acre multifamily tract.
Land
Property Type:
Land
N/A
Property Type:
Land
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Property Type:
Land
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Land
NB North
New Braunfels, TX
Off-market acquisition of 22.13 acres of fully entitled land for future multifamily.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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Land
Johnny Morris
Austin,TX
Acquisition of 22.13 acres zoned Light Industrial. We were able to rezone to Multifamily within 6 months of acquisition. We are currently joint venturing to develop a 375-unit multifamily community.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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