June 25, 2020
Rastegar Property Company has acquired the Mueller Point apartment complex in north central Austin’s Mueller neighborhood for an undisclosed sum. The locally based company is bullish on the Mueller neighborhood because of its proximity to downtown Austin.
“At Rastegar, we’ve always been contrarian investors and have approached Covid-19 as a generational buying opportunity,” said Ari Rastegar, founder and CEO of Rastegar Property Company. “This is our fourth major acquisition during the worldwide pandemic, and we expect to continue finding tremendous value in these type of garden-style apartment complexes.”
At Walker & Dunlop, managing director Forest Bass said, “Rastegar continues to be one of the most active buyers of centrally located multifamily properties in Austin, despite the volatile capital markets landscape during this pandemic. We have been fortunate to close multiple transactions with Rastegar over the last few months and are currently working on several other multifamily properties as well.”
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