HOUSTON, TX - Disrupt Equity, completes a $30,146,330 acquisition of the Cascade in Travis, TX in June 2022. The Cascade is a 198-unit asset built-in 1971. Renovations on Cascade Apartments were completed in 2016.The Property is located at 1221 Algarita Ave Austin, TX, 78704, positioned just south of the river running through downtown Austin and centrally located to some of Austin’s most popular destinations, including the famed South Congress and South Lamar Districts, as well as the Austin Central Business District.
Residents at Cascade have access to some of the biggest employers in Austin, including Google, Facebook, Whole Foods, Amazon, and Oracle, all within 5-10 minutes from the Property. The Property is centered in an affluent neighborhood with strong demographics. The immediate submarket holds a median household income of $112,000 and a median home sale price of $975,000. Cascade’s submarket finished 2021 with rental rates at $2.27/SF, 17% higher from the beginning of the year. Occupancy also held at 95% or higher throughout the year, showcasing booming demand for Austin multifamily.
Cascade Apartments offers one-bedroom, two-bedroom, and four-bedroom apartments with community features, including two swimming pools, recreation areas, on-site laundry, and a fitness center for residents to enjoy. The Property offers great value-add opportunities with over 40% of interior units left to renovate. The Disrupt Equity plans to begin interior renovations in-line with the immediate submarket and improve the assets amenity package.
Disrupt Equity’s in-house management firm, Disrupt Management, will be managing Cascade Apartments.
Cascade Apartments was the second acquisition for Disrupt Equity in the month of June 2022, with the anticipation of another multifamily acquisition to close by the end of July 2022.
About Disrupt Equity: Disrupt Equity is a real estate syndication firm focused on multifamily acquisitions. Disrupt Equity was founded by Ben Suttles and Feras Moussa and was born from the desire to create safe, quality housing through strategic upgrades, hands-on customer service-oriented management, and targeted acquisitions in growing markets. Disrupt Equity has bought more than $320M in real estate and has gone full cycle on eight of these large apartment deals, achieving a 20-50% average annualized returns to their investors. To date, Disrupt Equity operates over 3,000 units across the Sunbelt region and is projected to hit $600M in assets under management by the end of 2022.