Monterra Capital Acquires 124-Unit Apartment Property in Austin

Monterra Capital Partners recently expanded its presence in Austin’s multifamily housing market by acquiring Summer Grove, a 124-unit apartment property. Located at 7905 San Felipe Blvd., Summer Grove was built in 1984 and features one- and two-bedroom units with rents ranging from $1,099 to $1,499 per month. The acquisition underscores the continued attractiveness of Austin’s multifamily real estate sector, even amid broader market adjustments. The terms of the sale and the purchase price were not disclosed. This investment reflects a strategic move by Monterra Capital to capitalize on Austin’s robust rental market, which remains strong despite fluctuations in other segments of the local real estate market

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