OREI Obtains $15M Loan to Buy 200-Unit Mira Vista Apartments

One Real Estate Investment (OREI) secured acquisition financing totaling $15.1 million to acquire Mira Vista Apartments, a 200-unit, garden-style multifamily property on Austin’s north side. Omninet Capital of Beverly Hills, CA sold the 1980s complex at 9601 Middle Fiskville Rd.

Brad Williamson and Noam Franklin with Berkadia arranged the 10-year, 3.24% fixed-rate loan on behalf of the borrower. In addition, Berkadia’s Chinmay Bhatt and Cody Kirkpatrick delivered a NYSE-traded REIT as the equity partner. “One Real Estate Investment acquired this property in an off-market transaction after a previous offer fell through,” Williamson said, adding that the new owner is planning an upgrade program, which will include rebranding, new management and implementation of green initiatives.

Mira Vista offers one- and two-bedroom units, ranging from 650 to 960 square feet. Amenities include a dog park, clubhouse, barbecue grill area, playground, sauna, pool with sundeck, resident business center with internet access.

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