ACRON Completes Club Deal, Significantly Exceeding Expectations – Sale of “The View at Belterra” Multifamily Apartment Complex in Austin, Texas
Zurich, Switzerland; October 5, 2021 – Construction on “The View at Belterra” multifamily apartment complex in Austin, Texas, began in September 2019. Around USD 50 million was invested in the property featuring 233 luxury apartments. Just two years later, ACRON is now completing the project earlier than planned with its sale. ACRON nearly doubled the invested equity for its clients, representing a much higher than expected annualized internal rate of return (IRR) close to 40 percent. The successful deal demonstrates the potential of multifamily properties for international investors. “The View at Belterra” therefore takes its place in ACRON’s successful US multifamily investment series, which also includes “The Carolyn” in Las Colinas near Dallas, Texas.
Commenting on the successful completion of the project, ACRON Group CEO Peer Bender stated, “Due to the significant demand for high-quality Apartments in Austin and the unique location of “The View at Belterra”, we were able to sell the apartment complex earlier than planned and generated an outstanding return for our investors. We are very proud to be able to add this investment to our successful US multifamily investment series and, along with our investors, to successfully complete this deal ahead of schedule and above forecast.”
“The View at Belterra” is a multifamily luxury complex near the up-and-coming suburb Dripping Springs, Austin, Texas. The property’s 233 units feature one, two, or three bedrooms and measure between 50 m² and 162 m². In addition to luxury interiors, the apartment complex offers a wide range of amenities for resident use: lounge, entertainment room with pool table, demonstration/common kitchen, golf simulator, workspace/office space, fitness center with yoga studio, outdoor playground with bocce ball court, resort-style pool, outdoor grilling area, and dog park.
ACRON at a glance
Founded in Düsseldorf in 1981, the ACRON Group specializes in real estate club deals and has been headquartered in Zurich since 1988. All of ACRON’s real estate projects are based on a single-asset structure and are sold in Switzerland, Austria, Germany, and the United States. One focal point is investments in the USA, which account for just under 50 percent of the ACRON Group’s current investments. The company’s transaction volume amounted to CHF 2,19 billion in September 2021. ACRON’s clients are individual private investors, institutional investors, and families from around the world. The ACRON Group’s headquarters are located in Zurich (Switzerland) and Dallas (USA) with subsidiaries in Luxembourg; Düsseldorf (Germany); and Sâo Paulo (Brazil). www.acron.de, www.acron.ch
Peer Bender, ACRON AG, Zurich, Switzerland
+41 (0)44 – 204 34 00
Tabea Müller, ACRON GmbH, Düsseldorf, Germany
Head of Marketing
+49 (0)211 – 91 24 102