MC Companies Acquires Third Texas Multifamily Asset This Year

As part of its Operation 25K expansion, multifamily investor, manager and developer MC Companies has purchased its third Texas multifamily community this year – The Sage at 1825 and Sage Cottages, two adjacent properties totaling 455 units in the rapidly growing Pflugerville suburb of northeast Austin. MC Companies will deploy a renovation strategy at The Sage and rebrand the properties as The Place at 1825.

“The Sage represents a deep value-add opportunity where 94 percent of the units are in classic condition, offering a significant opportunity to renovate, modernize and rebrand as The Place at 1825,” said Bobby Bull, MC Companies director of acquisitions. “This makes for an ideal new addition to our growing portfolio and a strong long-term acquisition for our investors in a market where we see high job growth and high demand for housing. We are eager to find more properties like this in Austin and similar markets.”

Located at 15835 Foothill Farms Loop, The Place at 1825 will offer studio, one-, two- and three-bedroom floorplans ranging from 690 to 1,350 square feet.

Acquisition of The Sage was made possible by an equity portion from MC Companies and its investors. The CBRE debt/equity team of Michael Thompson and Frances Rodgers arranged the debt financing. CBRE’s Charles Cirar, Michael Wardlaw, Colin Cannata and Connor Moore served as the property listing broker.