20 Texas StoryBuilt Properties Hit the Market

The diverse StoryBuilt commercial and residential pipeline is now on the market in a receiver sale. The company entered voluntary receivership recently after it couldn’t pay its bills. The estimated value of the portfolio is $2 billion. A&G Real Estate Partners and Onyx Asset Advisors are marketing the properties.

The diverse offering, with properties running from seven to more than 800 units, features:

• Fully complete multifamily residential and mixed-use projects in Austin that are already generating millions of dollars in net operating income.
• Partially or nearly complete commercial and residential projects in Austin and Seattle.
• Land parcels in various stages of approval—including several fully entitled projects—for construction of approximately 2,500 residential units across the four cities.
• The largest of the land parcels is StoryBuilt’s mixed-use “Jolene” property in Dallas (see photo), with approvals in place for retail shops as well as 800 apartments, condos and townhomes.

Mike Bergthold, from court-appointed receiver Stapleton Group, explained. “For real estate investors, this truly is a unique and rare opportunity to acquire the entire company, inclusive of assets, people and quality brand and IP or the outstanding assets individually.”