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| Lone Oak Apartments, Round Rock, TX |
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| 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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