AUSTIN, TX – CapitaLand has formed a programmatic joint venture to scale its multifamily asset portfolio in the United States of America (USA). Through the joint venture, CapitaLand will have a strategic arrangement with its joint venture partner to buy and develop multifamily assets totaling US$300 million $416.1 million in yucky asset value. The joint venture partner is an Austin-headquartered real estate investment, development and property management firm. The joint venture will invest in multifamily assets in the Southeast and Southwest markets of the USA, with an initial focus on Austin, Texas.
CapitaLand and its partner have bought a freehold land parcel in the high growth, technology-driven city of Austin to develop the joint venture’s first multifamily project. CapitaLand holds an 80% stake in the project while its partner holds the remaining 20%. The 4.71-acre land parcel will be developed into a modern, mid-rise and green 341-unit suburban multifamily property, expected to be completed in 2023. CapitaLand’s partner has developed over 25,000 multifamily units across high growth and resilient markets in the USA since its inception 25 years ago.
Mr Jason Leow, President, Singapore & International, CapitaLand Group, said: “Development is one of CapitaLand’s key strategic growth pillars, along with lodging and fund management. CapitaLand’s acquisition of this prime site to develop our first multifamily property in Austin and having a potential pipeline of projects in the Southeast and Southwest markets of the USA will accelerate CapitaLand’s growth in the resilient multifamily sector. It adds to our current portfolio of 16 freehold suburban multifamily properties which we bought in 2018, strengthening CapitaLand’s presence and track record in the market. We will continue to seek attractive investment opportunities to build upon our diversified and well-balanced portfolio to deliver long-term value for our stakeholders.”
Mr Dang Phan, Managing Director for USA, CapitaLand International said: “Since the acquisition of our suburban multifamily portfolio in 2018, we have value-added to the assets through progressive refurbishment to enhance returns. Our multifamily properties have remained resilient and achieved a current committed occupancy rate of about 95%. Across the USA, multifamily rents have recovered quicker than other asset types during the past recessions[2]. Prior to COVID-19, allocation of investment capital towards the multifamily sector has exceeded that of other property types and the pandemic has accelerated this preference[3]. Growing our investment in the resilient, liquid and stable-yielding multifamily portfolio will provide income stability.”
“Despite COVID-19, Austin continues to be an attractive technology, business, government and investment hub with a steady outlook, an ideal base for CapitaLand to scale our multifamily portfolio in the USA. Austin’s business-friendly policies, high quality of life and skilled workforce have attracted major technology and Internet companies such as Amazon, Apple, Google, IBM, Oracle and Tesla to set up substantial operations in the city. The city’s focus on technology has also fuelled its population and job growth, consistently outpacing the national average. The demand for quality housing has risen correspondingly, with rents increasing 50% over the past decade,” added Mr Phan.
The upcoming 341-unit multifamily property in Austin is well-situated in a bustling locale close to commercial, residential and leisure activities. The development is a five-minute drive from The Domain, a node for live, work and play, and commonly referred to as “Austin’s second downtown”. The Domain comprises over 1.8 million square feet of retail amenities and over 3.4 million square feet of office space as well as 3,700 apartments and 900 hotel rooms.
The property is also immediately adjacent to the McKalla Place Major League Soccer Stadium, home to the Austin Football Club Soccer team. Slated to open in Spring 2021, the stadium will have a seating capacity for over 20,000 attendees and will host music performances, concerts, soccer matches and other community events.
The property is well-poised to meet the demands of technology and other professionals working nearby, seeking a convenient, well-designed and safe residential option in close proximity to the commercial developments. Designed to cater to residents in a post COVID-19 landscape, the property will implement features such as keyless entry to the apartments as well as smart home features within the apartment. Hand sanitising stations and anti-microbial surfaces will be installed throughout the shared spaces in the development while community bathrooms will provide hand-free amenities such as contactless faucets and soap dispensers. The property will feature about 1.4 acres of expansive outdoor recreational spaces to accommodate the needs of a burgeoning population of professionals working from home. The property will offer a mix of studios, one- and two-bedroom apartments with separate work and living areas for residents to work from home efficiently.

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SANTA FE, NM – Newly opened and offering area residents an opportunity to experience brand-new, luxurious mid-rise living, Capitol Flats is a four-tale development comprised of a 139-unit mix of studio, one-, and two-bedroom apartment homes priced between $1,100 and $2,370 and ranging from 468 to 1,056 square feet. Located at 950 W. Cordova Rd., Capitol Flats was designed by HEDK Architects and developed by Aberg Property Company, developer of the Railyard Flats apartment project in downtown Santa Fe.
“Capitol Flats is a first-of-its-kind mid-rise apartment community in the Railyard District, a neighborhood well-known both as a draw for area artists and for the local culture it brings into the city of Santa Fe,” said Property Manager Rupert Ortiz. “Residents now have the opportunity to live in the center of all that activity, which is especially attractive for people living and working in or near the Capitol.”
Residents of Capitol Flats will delight in brilliant walkability to bus stops, train stations, grocery stores, and the many attractions comprising Santa Fe Plaza. All of this is visible from the building’s fourth-floor entertaining deck, an amenity feature not found elsewhere in the area and one which offers views of the State Capitol building and of the Historic Plaza. Also unique to this community is a well-equipped fitness center which sits atop the building, allowing residents to delight in the urban scenery while taking in some exercise.
This development’s luxury homes are pet-friendly and fully outfitted with essential items such as washer/dryer setups, stainless-steel appliance package, quartz countertops, and wood-style flooring. The interiors themselves are spacious in their overall design, with 9-foot ceilings making a sense of considerable height which couples well with the mid-rise residential dynamic.

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AUSTIN, TX – San Francisco-based real estate investment firm Hamilton Zanze sold Bradford Pointe Apartments in Austin, TX on November 24, 2020. The transaction marks the company’s seventh sale in Austin since 2014.
“Austin continues to gain momentum from the number of tech companies establishing headquarters in the metro,” said Anthony Ly, director of dispositions at Hamilton Zanze. “The sale of Bradford Pointe capitalized on this continued momentum. We are delighted with how smooth this transaction played out and the fantastic outcome for our investors.”
The firm bought the garden-style property in 2015. During their ownership, Hamilton Zanze improved resident amenities, repaired retaining walls and asphalt, installed a dog park and community garden, and added an Amazon package hub to improve leasing efforts and increase rental rates. At the time of sale, Bradford Pointe was 95% occupied.
Bradford Pointe was built in 1984 and is located at 11701 Metric Boulevard. The property comprises 264 one- and two-bedroom units averaging 638 square feet. Units feature upgraded appliances, wood-style flooring, resurfaced countertops, ceiling fans, and air conditioning. Select units include private patios or balconies, vaulted ceilings, and in-unit washers and dryers. Community amenities include a clubhouse and fitness center, two swimming pools and a hot tub, outdoor kitchen, iMac business center, and playground.
Bradford Pointe is located in the North Central Austin submarket of the Austin metro area 11.5 miles (16-minute drive) north of Downtown Austin, providing direct access to major employers, entertainment, and The University of Texas at Austin. Despite stay-at-home orders brought on by the coronavirus pandemic, the metro economy has started to rebound as unemployment rates continue to decrease. Occupancy in the submarket registered 94.5% and demand in the Austin metro outpaced supply 13,484 units to 12,021 units as of Q3. Austin saw population growth of 14.7% from 2014 to 2019, the second-fastest growth rate in the nation. After the effects of the pandemic subside, economic and job growth are projected to continue in the metro.

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