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JoCo, ValCap Acquire Two Apartment Communities Totaling 316 Units in Austin

The-Lantern-Austin-Texas

The Lantern in Austin is a 316-unit community following the renovation of two existing, adjacent apartment properties.

AUSTIN, TEXAS — A partnership between two private equity firms, Pittsburgh-based JoCo Partners and Dallas-based The ValCap Group, has acquired two adjacent multifamily communities totaling 316 units in Austin. Westwood Apartments was built in 1983 and totals 152 units, and Audubon Square was built in 1986 and totals 164 units. The partnership plans to combine the properties into one community called The Lantern that features amenities such as a clubhouse, fitness center, pool areas, outdoor grilling stations and a dog park. The community opened recently and its first units are currently being renovated.

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