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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BETHESDA, MD – Walker & Dunlop, Inc. announced that it structured $84,375,000 in financing for The Residences at Annapolis Junction, a 416-unit Class A apartment community. The LEED Gold-certified property was originally delivered in 2018.
Located in Annapolis Junction, Maryland, halfway between Baltimore and Washington, D.C., and in highly desirable Howard County, the property is uniquely positioned within minutes of the National Security Agency, Fort Meade, and BWI Marshall Airport. The community also offers convenient access to local transit, including MARC train stations, Amtrak, and Interstate 295.
Dee McClure, Managing Director, and Katie Runyan, Senior Director, led the Walker & Dunlop team in arranging the Freddie Mac financing. Details of the ten-year non-recourse loan include a three-year interest only period. The permanent financing for The Residences at Annapolis Junction replaces the existing debt previously provided through Walker & Dunlop’s bridge lending program, which utilizes the company’s own balance sheet to offer small-term, non-recourse loans for properties that are being bought or repositioned as part of a new business strategy.
Ms. McClure noted, “This refinancing reflects Walker & Dunlop’s commitment and ability to meet our clients’ changing needs. In this case, the bridge loan we provided in 2018 allowed ample time for stabilization, and the Freddie Mac transaction provided financing to Armada Hoffler for an off-market acquisition.” She added, “This continuum of financing showcases the full spectrum of services and creative solutions Walker & Dunlop can bring to our clients.”
“Dee and Katie took charge of the entire process providing an exceptional customer service experience in addition to valuable insight and recommendations on the most advantageous structuring. We were most pleased with the execution and the ability for Walker & Dunlop to deliver higher proceeds than originally plotted,” said Michael O’Hara, Chief Financial Officer of Armada Hoffler.
Located in a suburban nature setting, The Residences at Annapolis Junction are within commuting distance to major cities as well as local schools, country clubs, and the Towers Branch Park nature and hiking trails. The property offers premium amenities, including a heated resort-style saltwater pool, a sundeck with a fireplace, TV, gazebos, and cabanas, as well as grill areas and a bocce court. Additional features include a fitness center, movie theater, community room, billiards room, 24-hour business center, bike repair room and bike storage, and parking with car charging stations. Units feature premium fixtures and finishes, and 50 percent of the apartments are scored as mission-driven by Freddie Mac.

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CHARLOTTE, NC – Madison Capital Group announced the acquisition of Foundry Point Apartments, a 275-unit multifamily community located in Downtown Charleston, SC.
Foundry Point is a premier mid-rise community located on the upper peninsula section of Downtown Charleston. Foundry is located blocks away from several restaurants and breweries and a small distance to Historic Downtown Charleston.
“Foundry Point is an asset that we plot to hold long term as we believe in the long-term growth of Charleston, particularly on the Peninsula. The nearby corridor is continuing to transform, and we are excited to see how the area looks in 10 – 15 years”, said Ryan Hanks Founder of MCG.
Madison Capital Group has been very active over the last 10 years in the Charleston region and has a large office in Downtown Charleston. Madison has been involved in the acquisition and development of 13 other communities in the Charleston MSA since 2009 and has two more communities plotted in Downtown and West Ashley.
Madison Capital Group, LLC is multifamily investment firm based in Charlotte, NC and focuses on the development and acquisitions of Class A multi-family projects throughout the Southeast.

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