AUSTIN, Texas, November 11, 2021 (Newswire.com) - Patoka Capital, a Southern Indiana private investment firm, and MMI Development are proud to announce their partnership on a Texas-based multi-family residential development.
The to-be-built Affinity at Tech Ridge Apartments will be located near Copperfield Park in the Tech Ridge section of Northeast Central Austin, TX.
The $85 million-dollar project, situated on 18.1 acres, will consist of 460 Class A for-rent multifamily units, developed within five, elevator serviced, four-story buildings. Each building will be a fully enclosed, secure, air-conditioned structure with the facilities to include an integrated clubhouse that will offer a variety of amenities along with a resort-style swimming pool.
The location chosen for this new project is about 15 minutes from Downtown Austin and is surrounded by several high-quality public and private schools, regional and neighborhood grocery-anchored shopping centers, and major employers such as Apple, Samsung, and Tesla.
"We continue to pursue targeted real estate development projects in vibrant markets with favorable demographics. MMI's track record of success and market expertise make them the ideal strategic partner," said Chance Ragains, CEO, Patoka Capital.
About Patoka Capital
Patoka Capital is a closely held private equity firm with a track record of partnering with management teams and successfully scaling businesses. Their sole mission is to build long-term value by acquiring and growing privately held businesses.
Patoka Capital is actively looking to partner with owners who are dedicated to ensuring the long-term success of their business. Patoka Capital invests a pool of its own committed equity capital and is not an institutional fund. They define success by the contributions they make to their customers, employees, stakeholders, and the community. For more information, visit www.patokacapital.com.
About MMI Development
MMI Development specializes in large-scale projects that are consistently completed on time and on budget. Their lean organizational structure is the basis for efficiency, and that proficiency results in a very attractive return on investments for their equity partners.
MMI's strategy is to identify and acquire various existing commercial real estate properties based on sound criteria and fundamentals. They then convert these properties into successful investments that pay above-average returns over the entire holding period. To learn more about MMI Development, visit www.mmi.com.
Source: Patoka Capital