Avanath Capital Management Acquires 280-Unit Apartment Community in Austin


Blunn Creek Apartments in Austin totals 280 units. The property was built in 2002.

AUSTIN, TEXAS — Avanath Capital Management (ACM), a Texas-based limited liability company, has acquired Blunn Creek Apartments, a 280-unit affordable apartment community in Austin. Built in 2002, the property features a pool, fitness center, business center, playground, resident clubhouse, outdoor picnic areas and onsite laundry facilities. Hunt Real Estate Capital provided a $19.5 million acquisition loan with four years of interest-only payments to ACM, which plans to implement a $2 million value-add program.

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