AUSTIN, TX – Silverstone Partners announced it has bought SeventyTwo 27 Apartments, a value-add multifamily community located in the Windsor Park neighborhood of Austin, Texas.
The acquisition of the Property is aligned with Silverstone’s investment strategy to buy multifamily communities with meaningful value-add upside potential in high-growth US markets. Originally constructed in 1984, the Property is comprised of 160 apartment units across ten garden-style buildings on five acres, and includes studio, one- and two-bedroom layouts.
The Property offers a compelling opportunity for Silverstone to do a specific business plot to make key improvements to both the interiors and exterior, including a resort-style pool and other community amenities. These improvements are expected to make value for all stakeholders, most of all both current and future residents.
Austin is one of the fastest-growing major metros in the US, with the city’s expansion driven by a large and rapidly growing technology sector and significant in-migration of new residents. These dynamics are making significant tailwinds for multifamily real estate, further supported by the strong demand for well-located, affordable living space. Silverstone’s analytics-driven approach identified Windsor Park as an attractive neighborhood for multifamily investment, along with 100 other neighborhoods in key US markets.
Manoj Ramprakash and Adam Brueckner, Managing Principals at Silverstone, said, “We are thrilled to launch Silverstone Partners with this terrific opportunity and look forward to building successful partnerships with our key stakeholders. The Property will greatly benefit from more active asset management and a refresh of both the interiors and exterior. This acquisition represents an vital milestone for the launch of Silverstone, and we expect to deploy over $100 million of equity over the next two years into these types of opportunities.”

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COLLEGE STATION, TX – Officials of The Preiss Company (TPCO), one of the nation s largest, privately-held, student housing owner-operators, announced the acquisition of the 828-bed University Trails College Station student housing community. Located within walking distance of Texas A&M University, it is centralized in one of two central student housing hubs in College Station.
While this acquisition marks our first entry into College Station, it also is our 17th transaction in Texas, said Susan Folckemer, chief acquisition and development officer, TPCO. The property services the largest university in the nation with 73,284 students. With a committed Aggies football fan base, University Trails College Station benefits from its close proximity to Kyle Field. Following a plotted upgrade, the property will take its rightful place as a leading choice of off-campus housing for Texas A&M students.
Located at 1101 Luther Street West, the off-campus apartments offer 1-, 2- and 3- and 4-bedroom layouts. The fully furnished units include private bedrooms and bathrooms with vinyl flooring in the common area. Additionally, each apartment provides a washer and dryer, new stainless steel appliances and a private patio/balcony. The pet-friendly student housing community also provides trash and sewer services, high-speed internet and water. Additional amenities include a sand volleyball court, resort-style pool and hot tub, basketball court, two fitness centers, business center/café lounge and multiple study rooms.
TPCO will invest significant capital to renovate interior units, upgrade the property and completely redo the clubhouse.

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CHEVY CHASE, MD – FCP with partners Insight Property Group and AHC announce the acquisition of Camden Largo Town Center apartments in Largo, MD for $71.9 million. The 245-unit community at 9701 Summit Circle will be rebranded Haven Largo.
“FCP is excited to continue investing in our home market with the acquisition of a well-maintained and high performing asset in one of the top submarkets in suburban Maryland,” said FCP’s Scott Reibstein. “As part of our commitment to the preservation of moderately priced apartment communities in the Washington, DC region, we plot to offer resident services and implement affordability requirements to a part of the units.”
“Insight is thrilled to partner with Prince George’s County, AHC and FCP on this acquisition, where we will be able to make much-needed affordable housing in an exceptional location,” said Tim White, Partner at Insight Property Group.
“AHC is delighted to buy our first community in Prince George’s County in partnership with the County, Insight Property Group, and FCP,” said Mary Claire Davis, AHC Greater Baltimore Director. “We appreciate the County’s commitment to providing long-term rental affordability in such a prime location, and look forward to adding programming and services to further enhance residents’ quality of life.”
Haven Largo is a low-density, garden apartment community offering a tranquil setting in a quickly growing submarket in Prince George’s County, MD. The community is minutes from the Largo Town Center Metro Station and the Capital Beltway. Residents of the spacious one-, two-, and three-bedroom apartments have access to major employment centers including the nearby University of Maryland Capital Region Medical Center. Apartment amenities include in-unit washers and dryers, vaulted ceilings, kitchen pantries, and rentable garages. The community has a fitness center, swimming pool, grilling areas, and an outdoor gazebo.

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