Lockhart Farms

Executive summary

BWE Investment Sales LLC (BWE) is pleased to offer the exclusive opportunity to acquire the Special Limited Partner (SLP) Interests that owns Lockhart Farms, a newly built 120-unit luxury affordable property in Lockhart, Texas. Lockhart Farms was built in 2023 and is currently 92% occupied. Lockhart, Texas, known as the “Barbecue Capital of Texas”, is located only 30 miles southeast of Austin and 70 miles from San Antonio. The prime location offers easy access to major highways, shopping centers, parks, and nature. This community offers top-of-the-line amenities, including granite countertops, a resort-style swimming pool, a state-of-the-art fitness center, beautiful modern clubhouse, playground, business center and more.

The property has a 100% real estate tax exemption via the Texas Chapter 394 Housing Finance Corporation (HFC) structure where the land is owned by the Capital Area Housing Finance Corporation and the improvements are leased back to the Partnership. The HUD D4 loan removes interest rate risk providing a super attractive rate of 2.94%. The newly constructed asset eliminates construction risk, material shortages and delays, and lease-up risk most new developments have experienced in recent years.

This is a unique opportunity to acquire the controlling interest in a luxury affordable property with extremely attractive in-place investment fundamentals.

Bang Realty-Texas Inc | License No. 701472