Austin, Texas – Barvin, a vertically integrated, Houston-based real estate company, recently closed on the purchase of Aura on Lamar. The five-story, Class A+ multifamily property includes 279 units and is located within North Central Austin.

Following an active year of Class A acquisitions (~ 1,300 units) and Class C dispositions (~ 900 units), Barvin currently owns ~ 4,700 units across Texas and Georgia. It operates in five markets: Houston, Dallas/Fort Worth, San Antonio, Austin, and Atlanta and is actively seeking investments in these markets and select expansion markets. Barvin has more than $850 million in assets under management in its retained portfolio. To date, it has invested more than $300 million in equity.

Aura Lamar features impeccable design and construction, premium finishes, and an unrivaled amenity package that elevates it to the top of the dynamic North Central Austin submarket. It is positioned near multiple major thoroughfares including Lamar Blvd, Interstate 35, and Mopac (Loop1), which allows for quick access to employment hubs and surrounding neighborhoods.

“We are thrilled to announce our entrance into the Austin market through the acquisition of Aura on Lamar. The property is uniquely positioned six miles from the Domain and five miles from Downtown," said Eric Barvin, President and CEO of Barvin. “The leasing velocity has been incredible, and our team is focused on providing an exceptional experience for residents, acting as a thoughtful steward of the community, and balancing immediate cash returns with long-term appreciation for our investors."

Developed in 2021 by Trinsic Residential, Aura Lamar’s impeccable attention to detail, combined with its excellent location, have attracted a superior demographic to the property. Units feature 10-foot ceilings, wrapped-corner balconies, custom kitchen islands, energy-efficient GE stainless steel appliances, double vanities, granite countertops with under-mount sinks, and walk-in showers. Community features include an athletic center with cardio and spin rooms, a resort-style swimming pool with a tanning ledge and fire pit, a business lounge with a large conference center, package lockers with 24/7 availability, a private clubroom with ping pong and service kitchen, a pet-friendly park and spa, and a sky-lounge that includes a kitchen, billiards table, and outdoor deck.

The strategic location of Aura Lamar allows residents to experience restaurants and entertainment in The Domain, The Triangle, and Downtown, some of most dynamic areas in the city. The location also provides convenient access to Austin’s major employers throughout the city, including those in the booming tech industry.

There’s no denying the boomtown-status of Austin or its continued growth potential over the next few years. It is the fastest growing major metro by demographics (Census) and was ranked second in STEM job growth for economics (RCLCO STEMdex). For the second year in a row, the city has been named the Best Tech City in the United States by CompTIA and it is home to 5,500 startups and tech companies, making it a favorable alternative to the Bay Area and New York City for companies that are looking to grow.

Over the last two years, more than 100 tech companies have relocated to Austin, creating an additional 5,000 jobs in the area and many notable tech companies (Google, Facebook, Atlassian, Tesla, Amazon, and Oracle) already call Austin home. Apple’s North Austin campus has the potential to add another 15,000 workers to its existing local headcount of 7,000, while Amazon plans to add 2,000 corporate and tech jobs. Additionally, Meta Platforms Inc. leased the entire commercial half of a 66-story high-rise building in downtown, while Tesla completed its 4.28M SF electric vehicle plant.

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Barvin, a vertically integrated Houston-based real estate company, recently closed on the purchase of Elan Heights. The 10-story, Class A+ multifamily property includes 326 units and is located within the historic Heights neighborhood, one of Houston’s most desirable places to live.

Following an active year of Class A acquisitions (~ 1,300 units) and Class C dispositions (~ 900 units), Barvin currently owns ~ 4,700 units across Texas and Georgia. It operates in five markets: Houston, Dallas/Fort Worth, San Antonio, Austin, and Atlanta and is actively seeking investments in these markets and select expansion markets. Barvin has more than $850 million in assets under management in its retained portfolio. To date, it has invested more than $300 million in equity.

Developed in 2016 by Greystar, the Type I steel and concrete property distinguishes itself from its competitors with its posh and modern blend of amenities and interior finishes. The amenity set is highlighted by the on-site fitness studio, yoga and spin studio, upscale game room, private conference room, and expansive skyline lounge with amazing views of Downtown. Additionally, interior finishes include 10-foot ceilings, stainless steel appliances, quartz countertops, engineered wood flooring, custom glass-front cabinetry, frameless showers with bench seating, wine chillers, nest thermostats, and saflok electronic locks.  

“We are excited to acquire Elan Heights, which is located in one the most sought-after and colorful neighborhoods in Houston," said Eric Barvin, President and CEO of Barvin. “The uniquely positioned property is located in proximity to both greenspace and major highway systems. We believe it is a tremendous opportunity and are thrilled to reenter our hometown market after our last Houston acquisition in 2018.”

The property is near many of Houston’s major employment centers including the Central Business District, Uptown/Galleria, Greenway Plaza, and the Texas Medical Center. In addition, the property sits adjacent to Stude Park and is within walking distance to the Heights Hike and Bike Trail and White Oak Bayou Trail. The area was touted as a “destination for foodies, architecture buffs, and creative types,” by the National Geographic Traveler and is a truly unified neighborhood living experience in an urban setting.

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Fort Worth, Texas – Barvin, a Houston-based multifamily investment firm, recently closed on the purchase of Elan Crockett Row. The luxury multifamily property located at the intersection of Crockett Street and Norwood Street consists of 380 units with 7,200 SF of fully leased retail including Salsa Limon and F45 Training. Barvin also owns Vance at Bishop Union and Los Altos Trinity Green in the Dallas/Fort Worth area.

Elan Crockett Row is in the booming West 7^th District, which is known for its pedestrian-oriented nature and accessibility to high-end restaurants and retail. The property is directly adjacent to the Modern Art Museum of Fort Worth.

"The acquisition of this desirable DFW community is aligned with our strategic repositioning toward Class A assets in growing markets with favorable demographics and economics. There is an immediate cash flow upside to this property, as the elimination of concessions equated to a 9% increase in total revenue at the time of close. With an attractive mix of growth and stability of cash flow, we look forward to optimizing the strong rent growth runway at the property."

Built in 2019 by Greystar, the property’s dramatic design makes a striking first impression – a naturally relaxed ethos with an earthy modern charm. The units feature top-of-the-line finishes including granite countertops, designer cabinets, elite appliances and wine refrigerators, Honeywell smart thermostats, and built-in closet organizers. Residents also have access to an elevated private pet park, a boutique pool with outdoor lounges, a covered grilling area with an outdoor fireplace and TV, a sculpture courtyard overlooking The Modern Art Museum, and a hammock garden with a fire pit and outdoor pavilion.  

Barvin plans to implement AI Revenue Management to optimize rent at the well-located, quality property.

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Barvin has partnered with Sun Holdings Group whose SYNC Residential property management arm will provide property management services as they have a significant presence and solid track record in the Atlanta market. 

“We look forward to growing our presence in the Atlanta market. Atlanta offers a strong, diverse economy for long term investment potential and helps us achieve our goal of a diversified portfolio with assets in Texas and future expansion plans throughout the southeastern and southwestern U.S.” – Eric Barvin, President and CEO of Barvin. 

Barvin is a privately help real estate investment and service company founded 2009 by Eric Barvin and specializing in multifamily property. Headquartered in Houston, Barvin has purchased over 4,000 units with the goal of generating superior returns by identifying and purchasing assets that have significant upside. We take pride in acquiring and managing assets that generate positive cash flow and exceed the expectations of our investors. Please contact us via our website at www.barvin.com for investment opportunities or to present acquisition candidates. 

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