HOUSTON, TX - Disrupt Equity, a leading multifamily real estate investment company, in partnership with Open Door Capital, announced the closing of The Texas 3 Pack - including Stonecreek (Katy, TX), Waterstone Place (Stafford, TX), and Treehouse (Austin, TX).
This portfolio of apartment complexes is located in the highly sought-after Houston and Austin markets. The portfolio includes Stonecreek Apartments in Katy, TX, purchased at $27,868,443, Treehouse Apartments, in Austin, TX, purchased at $48,960,943 and Waterstone Place, in Stafford, TX, purchased at $16,096,739. This closing has resulted in Disrupt Equity growing its portfolio Assets Under Management (AUM) to over $800M.
“Combined with our active deal sourcing, vetting, and underwriting, and the in-place 3.8% fixed debt, the Texas 3-Pack offers stability, diversification, and strong upside potential,” said Feras Moussa, Managing Director at Disrupt Equity.
These apartment complexes are located in high-growth locations with robust rental demand that are zoned to top-ranked Texas school districts. The Texas 3-Pack is located in the Austin and Houston, TX, submarkets that offer a robust economy and rapidly growing populations.
With two properties 10 minutes from Disrupt Equity headquarters and the third only 5 minutes from two of our Austin assets, we can immediately benefit from market knowledge and established property management teams in these cities,” said Ben Suttles, Managing Partner at Disrupt Equity.
Houston is the top city in the U.S. for population and job growth. It is projected to gain 549.8K residents and 296.8K migrants by 2025. The employment sector is no longer dominated solely by energy-related industries; now half the jobs are in business services, technology, aerospace, medicine, and manufacturing.
Austin is experiencing record-high rent and occupancy rates due to strong job and population growth. With 184 new residents daily, corporate relocations/expansions, low unemployment, and a favorable business environment, the area is attracting out-of-state renters seeking better job opportunities and affordable living. Rents have surged 51% compared to the national average in just 24 months. According to RentCafe's 2022 Most Competitive Rental Markets Report, apartments are rented in an average of 32 days, with a market occupancy of 95%.
Disrupt Management, an in-house multifamily property management firm of Disrupt Equity, will handle these assets. They currently manage over 7000 units in the Austin, Dallas, Houston, and San Antonio markets.