Major Miami investor buys first Austin multifamily property, looks for more

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OREI receives $15.1M loan, equity financing for deal

Austin Business Journal (OCTOBER 16, 2019) — A Miami-based real estate investment firm with more than $800 million in assets has entered the Austin market with the purchase of a 200-unit apartment community on the northeast side of the city.

One Real Estate Investment purchased Mira Vista Apartments at 9601 Middle Fiskville Road for an undisclosed price on Sept. 18, according to Travis County property records. In its value-add strategy, the firm plans to invest $1.5 million in renovations at the 36year-old property and hold it for about five years, said AJ Rose, chief investment officer at OREI. The property was 97% occupied at the time of sale.

Read more at: Austin Business Journal

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