AUSTIN, TX – FCP and VaultCap Partners announce the acquisition of Huntington Meadows apartments, a 200-unit multifamily property at 7000 Decker Lane in Austin, Texas. Huntington Meadows is the first acquisition in Austin for both FCP and VaultCap and was sourced through an off-market opportunity based on an existing relationship. Terms of the transaction were not told.
“Huntington Meadows provided FCP with an brilliant opportunity to enter the Austin market with a well-located affordable property in a quickly growing submarket with limited supply,” said FCP’s Cole Kellogg. “Huntington Meadows will be our third investment alongside VaultCap. Our commitment to and experience with a large portfolio of affordable and moderate-income properties provided us with the background to get TDHCA approval to operate this mixed affordable asset.”
Huntington Meadows is the 18th multifamily investment for FCP in Texas over the last 4 years.
“Mark (Christ) and I are incredibly excited to continue our FCP relationship with the Huntington Meadows acquisition. To be able to enter the Austin market with an asset of this quality and attractive basis is a real boon for our firm,” said VaultCap Partners’ Ryan Heddleston.
Huntington Meadows provides residents with brilliant access to major Austin highways including I-35, I-183, and I-13 with connections to major employers Tesla, Austin-Bergstrom Airport, NXP Semiconductors, and the Decker Lane Industrial area. The community is proximate to restaurants, retail, and service providers with immediate adjacency to the 208-acre Colony Park redevelopment that will result in up to 3,000 homes, grocery-anchored commercial and retail space, and a transit center with the potential for a MetroRail station to connect to downtown Austin.
FCP and VaultCap extend their appreciation to Wes Racht, Bard Hoover and Nick Fluellen of Marcus & Millichap for their representation of the seller.

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BEAVERTON, OR – Freshwater Investments has bought 84-unit Hanover Apartments in Beaverton, Oregon for $26.5 million. Built in 1998, an ideal vintage for value-add strategy, the property is comprised of excellent size 1-, 2- and 3-bedroom apartments with an average unit size of 918 square feet.
Ideally located within Beaverton, one of Portland s most coveted suburban areas, the Hanover property is only 15-minute drive from the Portland downtown. Freshwater is not a novice in this market as it has been operating Maybeck Apartments in Tigard, Oregon – a well performing asset located 9 miles from the Hanover.
With the rising interest rate, we are certainly observing the shift in the market. Based on my daily conversations with the brokers, many deals are now falling apart due to this turbulence. We had secured the favorable interest rate right before things got shaky and despite the current market conditions closed the deal without any hiccups , said Alex Rozenfeld, Freshwater Founder and Managing Partner. We saw a tremendous interest in this deal from our investors, with a record number of new investors and the demand exceeding our equity needs. Given the inflation on the rise and the recent struggles of the stock market, our investors know – diversifying into real estate is a way to strengthen their portfolios.
The CBRE team has brokered the transaction and Josh McDonald, Senior Vice President at CBRE Multifamily, commented: “It was an absolute pleasure working with the Freshwater team on our first of what will be many deals in our market. The Freshwater reputation has always been a “5 Star” rating as described by our partners in Seattle and colleagues in the West, and they proved to live up to that reputation. We look forward to working with them on additional opportunities in the future.”

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HUNTSVILLE, AL – The Kirkland Company announced the sale of The Windsor, an 88-unit complex, and Cambridge Court, a 64-unit complex, both located in the heart of Huntsville, Alabama. The combined buy price for both properties is approximately $17,500,000. The properties are comprised of studio, one-bedroom and two-bedroom apartments.
“Windsor and Cambridge are a perfect pairing for our entry into the Huntsville market. We have been attracted to Huntsville for a few years’ time. The job demand drivers, high levels of intellectual capital, wonderful lifestyle and general affordability are exactly what we seek in investment markets. We are keen to grow our local portfolio vastly in the next 12 months and hope to find opportunities to place our capital to work,” said Jonathan More of Mayfair. “Eric Hardesty of the Kirkland Company is a consummate professional and had a brilliant handle on all moving parts throughout the deal process.”
“This was a particularly challenging transaction with two disparate, yet experienced sellers. Mayfair and Navarino performed very well, dual tracking the transactions, and closing both deals simultaneously despite the market volatility and economic headwinds”, said Eric Hardesty. “We look forward to getting many more of these done in the future with Navarino and Mayfair.”
Eric Hardesty, Stephen Perlis, and Wade Lowry brokered the transaction between the buyers, Mayfair and Navarino, and the sellers, 3MC Partners and Penn Capital Group.

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