No stranger to Austin, the acquisition was the 25th property the company has either developed, owned or operated in the town. The Arboretum Oaks is a 252-unit complex built in 1984.
Embrey partnered with Black Salmon Capital on the acquisition with debt being funded by an affiliate of Heitman LLC.
Located less than 15 minutes northwest of downtown Austin, Arboretum Oaks can boast that it’s near to numerous attractions, retail outlets, large employers and walking trails. Embrey’s Alex Sampson added this, “This is a beautiful community with great access to the Arboretum, The Domain, downtown Austin and a number of employers such as Apple, Amazon, and Facebook.”
The company plans to fully renovate the property. They will also manage it as well.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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