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SPI Picks Up Buda Apartment Community
SPI Advisory LLC has added another Austin-area multifamily complex to its portfolio. The private equity firm closed on The Bradford, a 264-apartment community in Buda. The purchase of The Bradford gave Dallas-based SPI 1,074 apartments owned in Buda and nearby Kyle. The seller was not disclosed.
The Austin Business Journal reports the company plans to upgrade around half of the complex’s units, and tabbed the other half to be more affordable units intended to serve a broader range of tenants.
The Bradford was built in 2010. It’s three stories contains 234,336 rentable square feet. Unit sizes range from 600-1,150 square feet.
Hays County has experienced a population increase over the past decade. The total population grew from 157,107 to 241,067 from 2010 to 2020, according to U.S. Census Bureau data, and reached an estimated 269,225 in July 2022 — underscoring the customer base for multifamily properties.
- ◦Sale/Acquisition
