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SoNA Apartments, Austin, Texas<\/h5>\n
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AUSTIN, Texas, July 13, 2021 (GLOBE NEWSWIRE) — RockFarmer Properties, a privately held, fully integrated vertical development and investment firm based in New York City\u2014and Wildhorn Capital, an Austin, TX-based multifamily operator\u2014are pleased to announce the acquisition of SoNA Apartment Homes, a 164-residence garden-style multifamily development in Austin, Tx., for an undisclosed price.<\/p>\n
The transaction marks RockFarmer Properties\u2019 first foray into the Austin, Tx. multifamily market\u2014and marks the third multifamily acquisition made by RockFarmer\u2019s recently launched \u201cOpportunity Fund V.\u201d In June 2021, the company purchased two adjacent gated garden-style multifamily rental communities\u201498Fifty and Apex\u2014in Dallas, Texas. RockFarmer Properties plans additional acquisitions of value-add commercial and multifamily assets across the Dallas-Fort Worth, Austin and San Antonio, Texas markets.<\/p>\n
\u201cAustin 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,\u201d said Brian Getzler, Vice President of Acquisitions at RockFarmer Properties. \u201cRockFarmer hopes to acquire additional value-add properties in the Dallas-Fort Worth, Austin and San Antonio markets throughout 2021 following the launch of our newest fund.\u201d<\/p>\n
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. To date, RockFarmer Properties has successfully executed the development, acquisition, renovation, repositioning and sale of more than 70 transformative residential and commercial properties across New York and the Sun Belt states totaling more than $2B.<\/p>\n
\u201cWe are thrilled to team up with Wildhorn Capital\u2014an incredible owner\/operator in the Austin market\u2014on the acquisition of SoNA,\u201d said John Petras, principal of RockFarmer Properties. \u201cWe look forward to our shared success.\u201d<\/p>\n
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. To date, RockFarmer Properties has successfully executed the development, acquisition, renovation, repositioning and sale of more than 70 transformative residential and commercial properties across New York and the Sun Belt states totaling more than $2B.<\/p>\n
\u201cWe believe the fundamentals of the Austin market will remain strong for years to come as Austin\u2019s Silicon Hills tech corridor continues to see positive growth in population, corporate relocations, employment and rents,\u201d said George Michelis, Principal of RockFarmer Properties.<\/p>\n
For more information regarding RockFarmer Properties\u2019 future acquisitions, or to express interest in the company\u2019s future investment opportunities, please contact Brian Getzler, Vice President of Acquisitions at RockFarmer Properties, at 718.229.4488 x1900.<\/p>\n
About SoNA Apartment Homes<\/strong> To download and view high resolution images of SoNA Apartment Homes, please click this link: <\/em><\/strong>https:\/\/www.dropbox.com\/sh\/muwflqjv1nca9x6\/AACSV_24mG_Ov-OnHofLDOGia?dl=0<\/a><\/em><\/p>\n RockFarmer Properties<\/strong> is a privately owned fully integrated vertical development and investment firm based in New York City. Founded by George Michelis and John Petras, the company has successfully executed the development, acquisition, renovation and repositioning of more than 40 transformative residential and commercial properties across New York\u2019s most diverse neighborhoods. For more information, please visit rockfarmerproperties.com<\/p>\n Contact:
Located within Austin\u2019s Silicon Hills between Hwy. 193, the MoPac Expressway and SH 45 in Austin, Tx., SoNA Apartment Homes features one- and two-bedroom residences\u2014including 40 two-story townhome units\u2014across 8.23 acres. Residences feature spacious floorplans, woodburning fireplaces, stainless steel appliances, w\/d hook ups, custom wood cabinets and private patios or balconies. Built in 1985, SoNA\u2019s community amenities include a resort-style swimming pool with an expansive sundeck, outdoor grill stations, picnic areas and beautifully landscaped grounds. The clubhouse features a lounge area with fireplace, business center, and coffee bar. Residents also enjoy access to the lighted tennis court, walking trails and a fenced-in Bark Park.<\/p>\n
Greg McGunagle, Transmitter
212.967.1449<\/p>\n