Acquisition is One of Austin’s Largest Multifamily Transactions by Unit Count

In one of the largest value-add multifamily transactions by unit count in Austin this year, Archway Equities and CAF Capital Partners acquired The Morgan, a 504-unit community in Austin, TX.  The price was undisclosed.

“The Morgan represented an opportunity to acquire a very functional and well-maintained value-add property with unrealized potential in a market with strong apartment fundamentals,” said Sean Moghavem, Archway president. “We plan to continue to fine tune our portfolio building scale in markets where we have a significant presence like Austin.”

It is the first time the two firms, each of which control approximately 1,000 multifamily units in the market, have partnered on an investment in the Texas capital. Archway and CAF have been successful in unearthing and closing on properties in Austin despite the competitive nature of the market. For The Morgan, the partnership was able to pre-empt a full marketing process with a competitive offer and short due diligence period.