Chicago, IL, February 7, 2014 – Redwood Capital Group, LLC, a Chicago-based multi-family investment firm, is pleased announced the recent acquisition of Arbor at Tallwood, a 120-unit apartment complex in Austin, TX.
Redwood, headed by partners David Carlson and Mark Isaacson, owns and operates 28 properties totaling almost 10,000 units in multiple markets throughout the Midwest, Southeast and Southwest. The firm anticipates closing another $200 Million in acquisitions by year-end.
Arbor at Tallwood, located at 8810 Tallwood Drive in the Northwest Hills neighborhood of Austin, features mostly townhouse-style apartments averaging 987 square feet. Built in 1972 and situated on 5.8 acres, this 120-unit property consists of one-, two-, and three-bedroom homes. Redwood plans to continue upgrading the asset by injecting another $667,000 in capital improvements. Planned enhancements include upgrading the unit interiors, adding a fitness center, pool area improvements including an outdoor kitchen, enriching the landscaping, and other exterior improvements.
“Arbor at Tallwood’s incredible location in Northwest Hills gives residents easy access to major employers, attractive retail and dining districts, and major highways. Redwood is committed to taking advantage of the asset’s outstanding value-add opportunity by continuing the renovations initiated by previous ownership” said Redwood’s Vice President of Acquisitions Bill McDougall.
About Redwood Capital Group, LLC
Redwood Capital Group, LLC is a Chicago-based real estate investment firm founded in 2007 by David Carlson and Mark Isaacson. The company is focused on value-add and core-plus investments in primary urban and suburban markets across the U.S., primarily in the Midwest, Southeast, and Southwest. The company’s mission is to be the foremost choice for institutional and private equity in pursuit of strategic multi-family investment. Redwood is located at 1 E. Wacker Drive in Chicago. For more information, visit www.redwoodcapgroup.com or call 312.464.0300.
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