Northmarq finalizes sale and acquisition financing for multifamily property in Austin, Texas

SAN ANTONIO, TEXAS (July 19, 2022) – Moses Siller, managing director and Bryan VanCura, associate of Northmarq’s San Antonio investment sales team, secured the sale of The Arcadian. The property contains 83-units and is located at 8505-8525 Shoal Creek Boulevard in Austin, Texas. Northmarq represented the seller in the sale. 

“The seller was a repeat client who trusted us to execute on a quick and efficient result. The buyer was incredibly nimble and able to recognize and transact on a deal with tremendous upside in the marquee Austin market,” said VanCura. 

Patrick Elliott, vice president of the Dallas debt/equity team, collaborated with the San Antonio office to secure a bridge loan through a bridge/mezzanine lender. “This transaction was a team effort all around. The borrower had a robust renovation budget, so we were able to place them with a bridge lender that we have done several transactions with to ensure we got this deal closed in a dynamic environment,” said Elliott. 

Located only five miles from downtown Austin in the North Shoal Creek neighborhood, The Arcadian offers residents a great location mixed with luxury living. The property is surrounded by numerous fast-food and fast casual dining franchises, as well as numerous locally owned restaurants. With downtown Austin being so close by, residents’ options for going out are nearly limitless after a short drive to the city. The nearby Mopac Expressway and HWY 183 allow commuters easy access to Austin and its surrounding neighborhoods. 

In addition to an abundance of restaurant options, residents benefit from numerous other recreational activities nearby. Three shopping centers are located within a 1-mile radius of The Arcadian, all within a walking distance of less than 15 minutes. The surrounding area also provides several parks and recreation locations within a 5-mile radius. These include: The Stephen F. Austin Planetarium, Bull Creek Greenbelt, and Beverly S. Sheffield Northwest District Park. 

Community amenities include: Two outdoor swimming pools, a 24-hour fitness center, courtyard grilling and picnic area, and more. The property also boasts many in-home amenities after having recently renovated. Some of the upgraded amenities feature a washer and dryer, hardwood floors, walk in closets, and stainless-steel kitchen appliances in each unit.