NKF arranged the sale of Hawthorne at the District, a 284-unit, 1980s-vintage multifamily community near the East Riverside corridor in Austin, for an undisclosed price. For buyer Wildhorn Capital, it’s the third acquisition in the Austin market.
Vice Chairman Patton Jones of NKF represented the sellers, Hawthorne Residential Partners, a North Carolina-based multifamily investment management group, and Midway, a New York-based multifamily investment firm active in the Southeast and Texas value-add markets.
Additionally, Patrick Short, managing director for NKF’s Debt & Structured Finance group, facilitated financing on behalf of locally-based Wildhorn.
“Hawthorne at the District represents a growing trend of value-add trades in the East Riverside corridor as this area rapidly develops, spurred by the presence of Oracle’s expanding campus,” said Jones. “Investors are looking to capitalize on residents seeking affordable, quality living options just outside of downtown Austin.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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