AUSTIN, TX - Continental Realty Group, through its subsidiary Continental Realty Assets, Ltd. ("CRA"), a Denver-based multifamily owner and operator, is pleased to announce the purchase of the 232-unit Wildcreek Apartments in Austin, Texas. This marks the first acquisition for CRA in the Austin market.
Built in 1984, Wildcreek is a low-density property featuring one- and two-bedroom layouts across two distinct floor plans. The property’s amenity package includes a clubhouse/leasing center, two swimming pools, a dog park, and a basketball court. CRA intends to lightly upgrade the unit interiors during their ownership period, as well as make improvements to the property’s exterior and common areas.
Wildcreek is ideally located in the rapidly growing East Riverside Corridor of Austin, offering residents seamless access to many of the Austin MSA’s thriving employment centers and retail hubs.
“We are thrilled to add Wildcreek to our expanding portfolio,” said Robert Ireland, CRA’s Chief Investment Officer. “This is an opportunistic investment that aligns with our Vital Collection strategy, which provides quality housing at an affordable price. We look forward to improving the property and delivering an exceptional community to current and future residents at Wildcreek.”
CRA sees significant opportunity in the Austin multifamily market, “We are thrilled to enter the Austin market with our acquisition of Wildcreek,” said Adam Holt, CRA’s Director of Acquisitions. “Austin’s combination of rapid population growth and robust economic expansion has led to record-setting absorption of multifamily product. We expect to see multifamily fundamentals improve in the coming years as new deliveries wane. CRA is excited about the Austin multifamily market in the coming years.”