“This is our second multi-housing acquisition in six months and we’re closing in on 500 units,” said Matthew Steinberg, director of acquisitions at Langdon Street Capital. “We plan on continuing to build our portfolio in a market that we believe has exponential growth.”
Broadstone Crossing was built in 2006 and totals 225 units across 13 buildings. Prior ownership had renovated a portion of units’ interiors and made minor exterior improvements across the property. The property features a full suite of amenities including an on-site dog park, fitness center and pool.
Broadstone Crossing is located at 12430 Metric Boulevard near Austin’s most prominent submarkets, including The Domain, touted as Austin’s “Second Downtown.” The property is also proximate to the North Burnet-Gateway and Parmer Tech Corridors, which are key economic and employment drivers to the area.
The JLL capital markets team representing the seller was led by senior managing director Sean Sorrell and senior directors Joe Dowdle and Ryan McBride.