Wednesday, August 26, 2015

Passco Companies Acquires Recently Developed 304-Unit Class-A Multifamily Community in Austin, TX


Lone Oak Apartments, Round Rock, TX


Gary Goodman

AUSTIN, TX (August 26, 2015) – Passco Companies, LLC has acquired Lone Oak Apartments, a recently completed 304-unit, Class-A garden-style multifamily community located in Round Rock, Texas, a suburb of Austin, according to Gary Goodman, Senior Vice President Acquisitions of Passco Companies.

“This acquisition furthers our company strategy to strategically invest in markets that are on pace for significant growth over the next decade,” explained Goodman.

“Located only 23 miles from Downtown Austin in one of the most desired suburbs in the region, this recently completed property will provide Passco with a consistently high-quality asset for years to come.”

According to Goodman, Lone Oak Apartments was completed in 2014, and is currently 92 percent occupied.

Chris Black of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged the financing through Fannie Mae for the acquisition of the property.

For a complete copy of the company’s news release, please contact:

Corynne Randel/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940


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