Riverside Assemblage

The Riverside Assemblage comprises seven contiguous multifamily, office, and retail properties exceptionally well located on East Riverside Drive in Austin, TX, all walking distance to South Congress Avenue. Turnbridge assembled the portfolio through a series of off-market acquisitions beginning in 2019, directly adjacent to its Music Lane development and just across the river from Downtown Austin. Turnbridge has since refinanced the portfolio’s acquisition loan, completed a renovation program at Crescent Apartments, and re-leased the portfolio’s commercial properties at improved market rents. Turnbridge is also pursuing a rezoning to increase the assemblage’s entitled height and density to permit up to 600 feet of height and a 16:1 FAR.

Address
127-211 East Riverside Drive
Austin, TX
Submarket
South Congress
Asset Class
Residential, Office, Retail
Strategy
Covered Land
Size
221,600 building SF
Date Acquired
Beginning October 2019
Date Sold
Currently Owned by Turnbridge