DB Capital Recapitalizes Austin Apartment Asset, Revamp All the Units
September 27, 2022
DB Capital has recapitalized the Summit at Hyde Park, a 1980’s vintage 192-unit apartment community in Austin, TX. Since acquiring the property in 2019, DB Capital has invested more than $1 million to renovate 63 apartment homes, install a dedicated fiber infrastructure, new exterior paint and signage and a complete upgrade of the pool and amenity space. The recapitalization allows DB Capital to expand the renovation to include 100 percent of the unit interiors, adding a fitness center, and replacing the roofs on all 21 residential buildings
The property is located at 522 N. Lamar Blvd, two-and-a-half miles from the University of Texas, and walking distance to the restaurants and retail shops at The Triangle, a new 22-acre mixed used development.
DB Capital’s Brennen Degner has more, “This renovation is an example of how we are able to take advantage of economies of scale, and strategically deploy capital to reduce costs and drive prospective renter volume to optimize operating income.”