Barvin Buys 1st Austin Property

Aura on Lamar. Image courtesy of Barvin

Barvin has acquired Aura on Lamar, a 279-unit luxury asset in North Central Austin, Texas, from Trinsic Residential Group. Barvin received a $65.6 million loan provided by Barings Debt Funds.

Completed in 2021, Aura on Lamar stands five stories tall and comprises studio, one- and two-bedroom apartments, ranging from 486 to 1,406 square feet. The apartments feature 10-foot ceilings, balconies, custom kitchen islands, energy-efficient stainless-steel appliances, double vanities, granite countertops and walk-in showers. Common-area amenities include a fitness center, pool, business lounge, private clubroom, pet-friendly park and spa and sky lounge with a kitchen, billiards table and outdoor deck.

Located at 5629 N. Lamar Blvd., the property is near several dining and entertainment options and roughly 5 miles from downtown Austin. The community is also close to major thoroughfares, such as Freeway 1 and Interstate 35, which offer access to major employment hubs in the city, including tech companies such as Google, Facebook or Oracle.

Thanks to strong fundamentals, Austin remains a hot market for investors. Barvin currently owns 4,700 units across five metros in Texas and Georgia and plans to continue to expand its footprint in these core markets.