June 3, 2020
Rastegar Property Company has acquired the 70-unit Oakview Terrace Apartments in Austin’s Mueller neighborhood. Deal terms weren’t disclosed. It’s Rastegar’s second acquisition in the neighborhood in as many weeks.
“North Austin’s Mueller neighborhood is one of the fastest growing in the city, and the Oakview Terrace Apartment complex is another ideal property for Rastegar: a vintage multifamily community in an unbeatable location that is in need of a complete transformation,” said Ari Rastegar, CEO and founder of Rastegar Property Company.
“Rastegar executed flawlessly despite the turbulence in the capital markets due to COVID-19,” said Forrest Bass, managing director of investment sales at Walker & Dunlop. “They went under contract well before the COVID-19 pandemic took shape, and were able to honor their contractual obligations despite most other transactions that either completely terminated or experienced renegotiated pricing.”
Pictured: Rastegar Property Company CEO Ari Rastegar.
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