Avia Equities recently sold The Wayman, a 284-unit multifamily community in Austin, Texas. Formerly known as Ridgecrest, the buyer was Pegasus Real Estate who financed the purchase with a $27.9 million Fannie Mae loan from Berkadia according to Yardi Matrix data.
Completed in 1995, The Wayman is comprised of 15 garden-style buildings featuring one and two bedroom floorplans ranging from 707 to 1,065 square feet with interior features including in-unit washers and dryers along with vaulted ceilings and fireplaces available for select units. Amenities include a swimming pool, fitness center clubhouse plus outdoor grilling stations for residents’ enjoyment.
The previous ownership had invested more than $3.5 million into capital improvements over the past two years constructing a new clubhouse while also replacing roofs and windows throughout the property; additionally more than half of all units were renovated between 2015 – 2016 as well . Located at 3101 Wells Branch Parkway near Interstate 35 roughly 15 miles away from downtown Austin this rental community offers convenient access to many local attractions within its vicinity .
