May 27, 2020
Rastegar Property Company has acquired 505 and 507 W. Live Oak St. in South Austin for an undisclosed sum. The acquisition finalizes a land assemblage Rastegar has sought to complete since first purchasing 2209 S. 1st St. last September.
“The intersection of South 1st and West Live Oak is a vibrant, attractive neighborhood that’s often sought-out by the countless young professionals who make their way to Austin every year to take advantage of the growing job demand,” said Ari Rastegar, CEO and founder of Rastegar Property Company.
He added, “With the acquisitions of 505 and 507 West Live Oak, Rastegar is able to develop a beautiful mixed-use commercial and multifamily space that pays homage to the neighborhood’s unique culture, while providing residents and neighbors with the absolute best amenities.”
Michael McKinley of St. Croix Capital represented Rastegar Property in the transaction.
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