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Texas  + Austin  + Apartments  | 
Austin's 98% leased Radius-on-grove goes to Square House Capital

Newmark Helps Seller Trade Austin-Area Apartments

Newmark has arranged the sale of Radius on Grove, a 156-unit apartment complex in Austin’s East Riverside neighborhood. Rents vary between $1,900 and $2,500 for one- and two-bedroom units. Amenities include a pool, clubhouse, business center, fitness center, pet play area and outdoor grilling and dining stations. Patton Jones and Andrew Dickson of Newmark represented the seller, Houston-based investment firm Hilltop Residential, in the transaction. Radius on Grove was 98 percent occupied at the time of sale.

The buyer, Los Angeles-based Square House Capital, plans to implement a value-add program. “Radius on Grove is a premier asset with tremendous upside that fits our growth strategy to improve the quality of our investment portfolio and the communities we serve,” said Square House Capital’s Kindi Mann. “This is our first investment in Austin, a city that continues to exhibit proven fundamentals—a strong job market, population growth and robust rent growth.”

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Kindi Mann

About Mike Boyd

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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