Austin, TX
Disrupt Equity and Open Door Capital Close $93 Million Acquisition of Three Texas Apartment Communities Across Houston and Austin | MultifamilyBiz.com
HOUSTON, TX – Disrupt Equity, a leading multifamily real estate investment company, in partnership with Open Door Capital, announced the closing of The Texas 3 Pack – including Stonecreek (Katy, TX), Waterstone Place (Stafford, TX), and Treehouse (Austin, TX).
This portfolio of apartment complexes is located in the highly sought-after Houston and Austin markets. The portfolio includes Stonecreek Apartments in Katy, TX, purchased at $27,868,443, Treehouse Apartments, in Austin, TX, purchased at $48,960,943 and Waterstone Place, in Stafford, TX, purchased at $16,096,739. This closing has resulted in Disrupt Equity growing its portfolio Assets Under Management (AUM) to over $800M.
“Combined with our active deal sourcing, vetting, and underwriting, and the in-place 3.8% fixed debt, the Texas 3-Pack offers stability, diversification, and strong upside potential,” said Feras Moussa, Managing Director at Disrupt Equity.
These apartment complexes are located in high-growth locations with robust rental demand that are zoned to top-ranked Texas school districts. The Texas 3-Pack is located in the Austin and Houston, TX, submarkets that offer a robust economy and rapidly growing populations.
With two properties 10 minutes from Disrupt Equity headquarters and the third only 5 minutes from two of our Austin assets, we can immediately benefit from market knowledge and established property management teams in these cities,” said Ben Suttles, Managing Partner at Disrupt Equity.
Houston is the top city in the U.S. for population and job growth. It is projected to gain 549.8K residents and 296.8K migrants by 2025. The employment sector is no longer dominated solely by energy-related industries; now half the jobs are in business services, technology, aerospace, medicine, and manufacturing.
Austin is experiencing record-high rent and occupancy rates due to strong job and population growth. With 184 new residents daily, corporate relocations/expansions, low unemployment, and a favorable business environment, the area is attracting out-of-state renters seeking better job opportunities and affordable living. Rents have surged 51% compared to the national average in just 24 months. According to RentCafe’s 2022 Most Competitive Rental Markets Report, apartments are rented in an average of 32 days, with a market occupancy of 95%.
Disrupt Management, an in-house multifamily property management firm of Disrupt Equity, will handle these assets. They currently manage over 7000 units in the Austin, Dallas, Houston, and San Antonio markets.
AUSTIN, Texas — Lifelong Austinite, community organizer, and former city commissioner Carmen Llanes Pulido is officially running for Austin mayor. She formally filed to run in the race Friday and celebrated the move and demonstrated community support at an event Sunday night.
Local musicians and leaders in Austin’s music community, including Anne-Charlotte Patterson, vice chair of the Austin Music Commission, are hosted the community fundraising event at the Far Out Lounge & Stage.
“I have been asked by hundreds of Austinites all over the city – North, South, east and West – to step up for this position and bring accountability, transparency and real community-drive leadership to city hall,” Pulido said. “The moment I announced my candidacy, I felt a wave of enthusiasm, radical hope and engagement from out electorates that I think is crucial; it’s what we need, it’s what this city needs, and I’m really glad I made this decision.”
Pulido has worked alongside the diverse communities across Austin for the past 20 years to fight for common-sense policies, programs, and initiatives that have strengthened Austin’s infrastructure and improved quality of life.
AUSTIN, Texas – Barton Springs Pool is temporarily closed after Sunday’s rainstorm.
The city of Austin says the closure is due to reduced visibility after minor erosion resulted in cloudy water.
The pool will reopen when visibility allows lifeguards to be able to monitor swimmers effectively.
Photo of conditions at Barton Springs Pool (City of Austin)
READ MORE: Central Texas 911 lines experiencing technical difficulties
Updates will be posted here.
Click here for a list of other available pools.
Austin, TX
MotoGP News: Francesco Bagnaia Confused After British Grand Prix – ‘More Than This Was Impossible’
Francesco Bagnaia faced unexpected challenges during the 2024 British MotoGP at Silverstone, finishing third despite leading for more than half of the race. Initially setting a strong pace, Bagnaia’s performance waned due to tyre management issues, resulting in him being overtaken first by Jorge Martin and then by teammate Enea Bastianini.
In the early stages, Bagnaia seemed in control, but as the race progressed, his difficulties became apparent. As quoted by Crash.net, Bagnaia explained after the race:
“The first thing I want to do this afternoon and these days is to check everything on the data and know everything, because I want to know what I did wrong.
“I was thinking that I was managing everything well in terms of pace and tyres but when Jorge overtook me I saw that he was in better shape than me and I started to struggle a lot.
“I lost the front and Enea overtook me. I started to slow down and just finish the race because, today, it was more important than trying to fight for a better position.
“And they were just faster than me. I tried to do the maximum, and that maximum was third place.
“It’s not he first time this happened to me. Every time I’m not fully happy with the front tyre, like today we chose the medium, then I finish more the rear tyre because I can’t force the front to turn more.
“More than this was impossible. Happy with the result but it was a pity that yesterday I crashed.”
Despite the setback, the race was not without its achievements for Ducati and Bagnaia. The podium finish marked Bagnaia’s 43rd, setting a record for the most in Ducati’s history. The Italian rider continued:
“43 podiums is for sure a good number. It’s starting to become quite huge in terms of numbers.
“And when you put the best riders with the best bikes you can have this kind of lockout.
“We are eight [riders] with a bike that has the possibility to win and there are five or six riders on those eight bikes that are the top of the top.
“I think it’s quite normal to have these types of results. We always check the data and it gives us motivation to improve.
“It’s a great result for Ducati but it’s thanks to us that we are improving every time.”
The next MotoGP race is set to take place at the Red Bull Ring in Austria on August 18.
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