Wildhorn Capital Acquires 94%-Occupied Enclave at Water’s Edge

Enclave at Water’s Edge, a 184-unit multifamily property in a rare infill Silicon Hills location near The Domain, recently sold to Wildhorn Capital. The price was undisclosed. Located at 12330 Metric Blvd., the community was 94 percent occupied at the time of sale.

Newmark’s Patton Jones and Andrew Dickson represented the undisclosed seller in the sale, while Matt Greer and Andrew Wilson facilitated financing on behalf of the buyer. Bridge Investment Group provided the financing. Newmark has handled the sale of Enclave at Water’s Edge three times since 2014.

“Austin’s tightening cap rates have made it increasingly challenging to attract financing that is accretive to returns,” said Greer.

Silicon Hills comprises several of the city’s largest employers including Apple, eBay/PayPal, Visa, Oracle, Indeed, Facebook, IBM and Dell’s world headquarters. As new construction continues to deliver in the phased development, The Domain retail and office destination will bring an estimated additional 7,000 jobs to the area.

“Enclave at Water’s Edge is in an outstanding location, minutes from The Domain, Austin’s second downtown, and the new Q2 Stadium, home to Austin’s first Major League Soccer team, the Austin FC,” said Jones. “The property provides much-needed workforce housing for the thousands of jobs surrounding this rapidly growing area.”