Archway Equities links up with CAF Capital Partners to secure the purchase of an apartment complex in Austin.

“In one of the largest value-add multifamily transactions by unit count in Austin this year, Archway Equities (Archway) and CAF Capital Partners (CAF) has acquired The Morgan, a 504-unit community in Austin, TX," Archway Equities said in an Aug. 31 statement.

The property was built in the mid-1980s and approximately 45% of the units had already been renovated by the previous owners, Multifamily Press reported.

At the time of closing, the property was 95% leased, according to NewsTalk Texas - Real Estate Center.

Amenities at The Morgan include two pools, a dog park, a business center, walking trails and biking trails. According to the News Talk Texas - Real Estate Center, the property was first built in 1983 and has one- and two-bedroom apartments available for rent. 

Nestled five minutes away from The Domain and Tech Ridge areas of Austin, The Morgan can be found at 1801 Wells Branch Pkwy.

"When the upgrades are completed, The Morgan will be an outstanding property in a market where job growth is outpacing the inventory of quality rental housing," CAF Capital Partners President Jack Alexander said to Multifamily Press.