SPI Advisory (SPI) and its 1031 partners finalized the acquisition of The Bradford, a 264-unit, Class A- institutional-quality, value-add apartment community built in 2010 in the high-growth suburb of Buda, Texas, just a 20-minute drive south of Downtown Austin. This acquisition highlights SPI’s continued expansion in the submarket as one of Hays County’s largest landlords with nearly 1,100 units owned and operated between Buda & Kyle.
The area within a three-mile radius of The Bradford experienced a 159% increase in population over the past decade but Hays County has been identified as one of the fastest-growing counties in both Texas and the nation (U.S. Census Bureau; The Greater Austin-San Antonio Corridor Council, 2022).
Previous ownership upgraded a handful of the property’s existing units with premium finishes, appliances, and more contemporary design elements. SPI will continue programmatic upgrades to a handful of units per month for the next two years but intend to leave 50% of the property with affordably priced “classic” units to serve a broader range of prospective tenants long term.
