FCA Closed on the Sale of Establishment in Austin, Texas
WHEATON, Ill., (August 30, 2019) – First Capital Advisors, LLC (FCA) has recently acquired a 1970s vintage, garden style apartment complex located in Central Austin, Texas.
“With the purchase of the Establishment apartment complex in Austin, FCA has now entered into another major Texas Market,” said Chris Pope, CEO of First Capital Advisors. “We have been attempting to break into the Austin market for quite some time. The purchase of Establishment has accomplished that and offers us the opportunity to add value to an extremely well positioned asset.”
Establishment is a 139 unit apartment complex located in a premier urban address in Central Austin, Texas and is only 2.5 miles from Downtown. Desirable features such as ample parking, a large laundry center, and beautiful landscaping are beneficial to tenants. Amenities for this location include a large pool and patio, outdoor grilling and smoker (perfect for Texas style BBQ), and a dog playground. It also has a remodeled clubhouse, business center, and covered lounge areas.
This property offers residents easy access to major thoroughfares such as HWY 290/71, IH-35, MoPac, and Loop 360. This will allow all tenants, especially young professionals, to quickly travel to major employers located in the Austin area such as Google, Facebook, Indeed, and University of Texas. Its attractive location is also in close proximity to fine dining, night life, music venues, shops, and outdoor recreation attractions.
About First Capital Advisors Holdings, LLC
First Capital Advisors, LLC is a fully integrated, self-administered and self-managed real estate investment firm focusing on the acquisition, ownership, and management of high quality real estate throughout the United States. First Capital is an affiliate of First Trust Portfolios L.P., a financial services firm founded in 1991. Additional information about First Capital Advisors can be found at the company’s website at fca-grp.com.