INVESTMENT OFFERING
SAB Capital presents Independence Meadows Apartments, an elderly-designated multifamily community located approximately 45 miles southeast of Austin, Texas.
The 42-unit property is supported by a Project-Based Section 8 HAP contract, renewed under Option 3b in 2018 for a 20-year term.
Originally constructed in 1980, the property underwent substantial renovations in 2019 through the Mark-to-Market Green Initiative program. Improvements included energy and water efficiency upgrades. The property spans 7.15 acres and consists of 22 buildings. The unit mix includes 16 one-bedroom, 16 two-bedroom, and 10 three-bedroom units.
The property includes a leasing office and playground. The buildings feature masonry construction and pitched asphalt shingle roofs.
- Independence Meadows Apartments in Smithville, TX | 45 Miles Southeast of Austin | 4th Largest City in Texas
- 100% Project Based Section 8 Subsidy Contract | Renewed Under Option 3b in 2018 for 20 Years
- Underwent Full Mark-to-Market Restructuring in 2018 | Green Initiative | Use Agreement in Place Through 2048
- Oversized 7.15 Acre Parcel | Favorable Unit Mix 62% of Units are 2 & 3 Bedrooms
- Located 22 Miles Southeast of Bastrop SpaceX Facility | Expected to Increase by 1M Square Feet | $280M in Capital Investment
| Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
|---|---|---|---|---|---|
| Independence Meadows | $4,450,000 | % | 36,328 | Available |
