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TerraCap Buys Two Rental Communities With Assist of $111M Loan
TerraCap Management has increased its holdings in the Austin area to over 1,000 units, after recently buying two Pflugerville properties. The Dalton and the Beacon were sold by Trez Capital. They were developed in partnership with Thompson Realty Trust. ACRE, a private equity firm, arranged two acquisition loans totaling $111 million on behalf of TerraCap.
The Dalton totals 350 units in one-, two- and three-bedroom floorplans ranging from 619 to 1,324 square feet. Community’s amenities include a pool, coffee bar, self-serve wine membership, fitness center, dog park and wash, and remote work and study spaces.
The smaller of the two communities, The Beacon at Pfluger Farm offers 258 units in one-, two- and three-bedroom floorplans ranging from 600 to 1,351 square feet. The development’s amenities include a pool, a fitness studio, an outdoor fireplace, a dog park and a TV lounge.
Both The Dalton and The Beacon at Pfluger Farm were built in 2022.
- ◦Sale/Acquisition
