SFO expands its footprint in Texas by acquiring 308 multifamily units in Austin
SFO announces the acquisition of Aspect, a 308-unit multifamily community located in Austin, Texas.
Austin has ranked 3rd among the 50 largest MSAs for net migration with an average population growth of 3.3% p.a. from 2010 to 2019 and has been a target market for SFO for the past two years. Aspect is a newly-renovated property built in 2001, boasting a superior amenity set and located at close proximity to major employment hubs including Oracle’s new cloud campus and Tesla’s future 2nd US “Gigafactory” producing its Cybertrucks.
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO, said: “We are thrilled to expand our US housing program into Austin which has positioned itself as a robust tech hub and continues to record phenomenal growth metrics. We remain strong proponents of the multifamily sector which has been a top performer during the current pandemic, continuing to exhibit its defensive characteristics.”
About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of September 2022, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.0 billion in assets located primarily in the USA and Europe, including 7,700 apartments and more than 9 million square feet of commercial real estate under management.