Behringer Harvard Invests in 220-Unit Community in Texas
Behringer Harvard Multifamily REIT I Inc. announced that it will provide equity capital for the construction of a multifamily community in Austin, Texas.
By Jessica Fiur, News Editor
Austin, Texas—Behringer Harvard Multifamily REIT I Inc. announced that it will provide equity capital for the construction of a multifamily community in Austin, Texas. The community, called Seven RIO, will be a luxury high-rise building in the West Sixth Street District. CWS Capital Partners LLC will serve as the developer.
Seven RIO will have 24 stories and include 220 units. The units will feature one- and two-bedroom layouts with up to two baths and will average about 924 square feet in size. Additionally, the apartments will feature granite countertops, brushed nickel hardware, stainless steel appliances, 10-foot ceilings, private balconies and full-size washers and dryers.
Amenities will include a resort-style pool, fitness center, business center, clubroom and patio area with a fireplace and built-in grills.
The community is located near Austin’s central business district, as well as a MetroRail station and the MoPac Expressway.
“We expect Seven RIO to benefit from a strategic location in downtown Austin with convenient access to employers in the central business district as well as many shopping, dining and entertainment venues that contribute to Austin’s exciting nightlife,” Mark Alferi, chief operating officer, Behringer Harvard, says. “We are pleased to be partnering with CWS Capital Partners on our first development project in Austin.”