Embrey, Black Salmon Acquire 252-Unit Arboretum Oaks Apartments in Northwest Austin
AUSTIN, TEXAS — San Antonio-based investment firm Embrey has acquired Arboretum Oaks, a 252-unit apartment community in northwest Austin. Embrey acquired the property in partnership with Black Salmon Capital from an undisclosed seller. The property features one- and two-bedroom units and amenities such as a pool, fitness center, pet park, business center, clubroom, laundry facilities and a package handling system. Matt Pohl and Spencer Roy of Walker & Dunlop brokered the sale. Patrick Short and Tom Toland, also with Walker & Dunlop, arranged acquisition financing for the deal through global investment management firm Heitman LLC. The new ownership plans to implement a value-add program.