Disrupt Equity, in partnership with Open Door Capital, announced the closing of 3 apartment complexes, including Stone Creek (Katy, TX), Waterstone Place (Stafford, TX), and Treehouse (Austin, TX).
This portfolio of apartment complexes is located in highly sought-after Houston and Austin markets. The portfolio includes Stonecreek Apartments, located in Katy, TX, Treehouse Apartments located in Austin, TX, and Waterstone Place, located in Stafford, TX. The addition of these assets has added over $800 million in AUM to the growing Disrupt Equity portfolio.
“Combined with our conservative underwriting, the Texas 3-Pack offers stability, diversification, and strong upside potential,” said Feras Moussa, Managing Director at Disrupt Equity.
These apartment complexes are located in high-growth locations with robust rental demand that are zoned to top-ranked Texas school districts. The Texas 3-Pack is located in the Austin and Houston, TX, submarkets that offer a robust economy and rapidly growing populations.
With two properties 10 minutes from Disrupt Equity headquarters and the third only 5 minutes from two of our Austin assets, we can immediately benefit from market knowledge and established property management teams in these cities.” Said Ben Suttles, Managing Partner at Disrupt Equity.
Houston is the top city in the U.S. for population and job growth. It is projected to gain 549.8K residents and 296.8K migrants by 2025. The employment sector is no longer dominated solely by energy-related industries; now half the jobs are in business services, technology, aerospace, medicine, and manufacturing.
Austin is experiencing record-high rent and occupancy rates due to strong job and population growth. With 184 new residents daily, corporate relocations/expansions, low unemployment, and a favorable business environment, the area is attracting out-of-state renters seeking better job opportunities and affordable living. Rents have surged 51% compared to the national average in just 24 months. According to RentCafe’s 2022 Most Competitive Rental Markets Report, apartments are rented in an average of 32 days, with a market occupancy of 95%.
Disrupt Management, an in-house multifamily property management firm of Disrupt Equity, will handle these assets. They currently manage over 6400 units in the Austin, Dallas, Houston, and San Antonio markets.