Kyle, TX – September 15, 2023 – Momentum Real Estate Partners, LLC (“Momentum”) is proud to announce the sale of Provenza at Plum Creek, located at 5020 Cromwell Dr, Kyle, TX 78640. Mauricio Gruener, Co-President and Co-CEO of Momentum, noted, “Recognizing Austin’s burgeoning potential, marked by robust population increase, employment growth, and rising incomes, played a pivotal role in making Provenza at Plum Creek a successful investment in our portfolio.”
Provenza at Plum Creek serves as a testament to the strategic insight of Momentum’s investments. Nestled in the flourishing submarket of Kyle, TX, within the greater Austin, TX market, the property features 180 units built in 2016.
Eduardo Gruener, Co-President and Co-CEO of Momentum, commented, “Provenza at Plum Creek is more than just a property; it embodies our strategic approach to the real estate landscape in a growing market like Austin. As Austin’s prominence continues to rise, our expertise, passion, and precision uniquely position us not just to identify, but also to sculpt distinctive opportunities. We believe our approach exemplifies what can be achieved when strategy, foresight, and determination come together.”
During Momentum’s stewardship, the property was rebranded under Momentum’s proprietary “Provenza” brand. A comprehensive clubhouse and amenity upgrade was executed, reinforcing the property’s status as a frontrunner in the Kyle submarket.
Jeff Carron, Partner at Momentum, shared, “The success of Provenza at Plum Creek underscores our team’s proficiency in pinpointing premier investment opportunities. Coupled with our dedication to hands-on management, we are well-positioned to capitalize on dynamic markets like Austin.”
Santiago Peredo, Partner at Momentum, remarked, “The notable trajectory of this property reflects Momentum’s strategic insight and vision in multi-family real estate. We’re gearing up with both focus and optimism for our future ventures in this market and beyond.”
Amidst Austin’s notable growth in both population and income, the real estate landscape has evolved with rising competition. Provenza at Plum Creek serves as an exemplar of Momentum Real Estate Partners’ strategic navigation of this dynamic market. Momentum Real Estate Partners demonstrated its operational strength, maintaining stable rent levels, healthy occupancy rates, and revenue growth. The firm’s dedication to long-term property value was evident as they continually reinvested to uphold the property’s quality and allure.
The successful acquisition and subsequent sale of Provenza at Plum Creek further emphasize Momentum Real Estate Partners’ effective collaboration with market brokers. Such partnerships have been pivotal, facilitating both the procurement under favorable conditions and the selling process in a challenging market. The journey of Provenza at Plum Creek encapsulates Momentum Real Estate Partners’ adept approach to real estate in the growing Austin sector.
About Momentum Real Estate Partners, LLC
Based in Miami, Florida, Momentum Real Estate Partners, LLC has made a significant mark over the past decade in the real estate industry, with transaction volume across major U.S. markets amassing a total of $1.4 billion in property value. Since its founding, the company has acquired 20 projects, totaling approximately 5,159 residential units spread across 15 dynamic cities. Delve into their story at momentumrep.com.
?Disclaimer: INVESTING CARRIES SIGNIFICANT RISKS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS STATEMENT IS NEITHER AN OFFER TO BUY OR SELL SECURITIES NOR A RECOMMENDATION. KINDLY REFER TO OUR PRIVATE PLACEMENT MEMORANDUM FOR ESSENTIAL INFORMATION AND DISCLOSURES.
