ORIX
ORIX Corp. USA has purchased Strata, a 322-unit luxury asset in Austin, Texas, from Maverick Development Group. In addition, Multi-Housing New reports Franklin BSP Realty Trust issued a $42 million acquisition loan set to mature in 2031.
Strata is part of a six-phase project set to include more than 2,000 units.
ORIX’s new community comprises 12 buildings encompassing studio, one- and two-bedroom layouts that average 875 square feet. Amenities include a business lounge with private work pods, as well as a gym, swimming pool and community room, among other features.
Located at 8340 Bluff Springs Road, Strata is some 10 miles southwest of downtown Austin. The property is also less than 1 mile from Interstate 35.
Established in 1981, ORIX manages proprietary and investor capital across a wide range of alternative asset classes on the ORIX USA platform and through subsidiaries NXT Capital, Hilco Global, Boston Financial and Lument.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout