Hertz Investment Group Moves into Multifamily With 422 Units

Hertz Investment Group recently announced plans to move into the multifamily housing sector. The first value-add project underway, a three-property 422-unit complex in Austin, recently completed the exterior renovation portion.

“The multifamily market will continue to expand across the country. Given our already existing footprint throughout the nation, this is a logical evolution for us,” said Zev Hertz, company chairman, CEO and president. “Austin is one of the fastest-growing technology hubs in the nation and over 100 new residents move there each day. Expanding our portfolio to include multifamily housing in this sought-after city was a unique opportunity that enables us to contribute to this exciting urban growth trend. We will continue to seek out these types of opportunities throughout the nation.” 

The properties include the 132-unit Ascent at Quail Creek, the 130-unit Ascent at Walnut Creek and the 160-unit Ascent at North Burnet. The three multifamily properties consist of 52 studios, 254 one-bedroom and 116 two-bedroom apartments.