RockFarmer and Wildhorn Buy SoNA in First Austin Foray

New York City-based RockFarmer Properties and Austin-based Wildhorn Capital recently acquired SoNA Apartment Homes, a 164-residence garden-style multifamily development in Austin, for an undisclosed price. The transaction marks RockFarmer Properties’ first foray into the Austin multifamily market and marks the third multifamily acquisition made by RockFarmer’s recently launched Opportunity Fund V. 

In June 2021, the company purchased two adjacent gated garden-style multifamily rental communities, 98Fifty and Apex, in Dallas. RockFarmer Properties plans additional acquisitions of value-add commercial and multifamily assets across the Dallas-Fort Worth, Austin and San Antonio markets.

“Austin continues to see explosive growth as people nationwide migrate to southern cities with ample opportunities for employment. We believe there is great upside potential for multifamily developments like SoNA, and look forward to implementing meaningful upgrades and enhancements to the property,” said Brian Getzler, vice president of acquisitions at RockFarmer Properties.

RockFarmer Properties plans to add significant value to SoNA through timely unit interior renovations while enhancing the community-wide amenities and common areas at the property.