Completed
Quest at Cedar Park
Cedar Park, TX
Overview
Asset class
Real estate
Asset type
Multifamily
Strategy
Fixed income
Funds
Growth eREIT
Updates
New acquisition
May 9, 2018
This investment is part of our broader strategy of financing new construction in metro areas experiencing rapid population growth.
New acquisition: Mixed-use project in fast-growing Austin area
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Progress update
May 6, 2019
Despite initial delays due to heavy rain last summer and fall, foundations are in place and construction has gone vertical.
Photos: Construction under way on mixed-use project near Austin
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Progress update
August 13, 2020
Securing tenants is an important investment milestone, decreasing our risk while we continue to earn an 11% annual return.
Photos: New apartments near Austin begin leasing while construction wraps up
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Exit
January 27, 2021
The project generated an annualized return of roughly 11%, supporting quarterly dividends for Growth eREIT investors.
Austin-area apartment development investment pays back successfully
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Asset type
Multifamily
Multifamily (MF) is a residential building designed to house multiple tenants. These properties can range from small to large apartment complexes with hundreds of units. With a boom in remote work and business-friendly local governments courting employers, more affordably-priced suburban apartment communities have generally experienced stable or growing demand. Multifamily’s resilient demand and scale enables us to leverage our integrated operating platform to drive long-term performance.
Our strategy
Fixed income
Provide real estate backed loans or similar financing
- Expected variability of return: Low
- Timing of expected return: Typically begin earning interest immediately
- Primary expected source of returns: Interest income
This section is intended to provide a general overview of the Fixed income strategy for educational purposes only, and is not meant to be representative of the specific details of any individual investment. All investments involve risk; there are no guarantees of any returns.