Barvin buys Austin’s first property
barvin acquired Aura on Lamar, a 279-unit luxury asset in north-central Austin, Texas, from Trinque Residential Group. Barvin received a $65.6 million loan provided by Barings Debt Fund.
Completed in 2021, Aura on Lamar stands five stories tall and features studio, one-, and two-bedroom apartments, ranging from 486 to 1,406 square feet. Apartments feature 10-foot ceilings, balconies, custom kitchen islands, energy-efficient stainless steel appliances, double sinks, granite countertops, and walk-in showers. Communal facilities include a fitness center, swimming pool, business lounge, private club room, pet-friendly park, spa, and sky lounge with kitchen, billiards, and outdoor terrace .
Located at 5629 N. Lamar Blvd., the property is near several restaurants and entertainment venues and approximately 5 miles from downtown Austin. The community is also close to major arteries, such as Interstate 1 and Interstate 35, which provide access to major employment hubs in the city, including technology companies such as Google, Facebook, or Oracle.
Thanks to strong fundamentals, Austin remains a hot market for investors. Barvin currently has 4,700 units in five metros in Texas and Georgia and plans to continue expanding its presence in these core markets.