Property Listings

Cushman & Wakefield has been engaged by Bonner Carrington (the “Sponsor”) as exclusive advisor to arrange the recapitalization of a five-community, 1,079-unit affordable and affordable active adult community portfolio (the “Portfolio”) located across the Austin MSA. The Portfolio presents prospective investors an exceptional opportunity to acquire a significant equity position in institutional-scale, income-restricted housing alongside an experienced sponsor who developed and continues to operate every community in one of the fastest-growing metropolitan areas in the United States.

The Portfolio comprises 1,079 units and approximately 1,039,871 rentable square feet across five communities in four submarkets and three counties: Cypress Creek at Lakeline (Cedar Park), Cypress Creek at River Bend and Mariposa at River Bend (Georgetown), Mariposa at Hunter Road (San Marcos), and Cypress Creek at Stoney Ridge (Del Valle). The communities were delivered between 2003 and 2025 and have been meticulously maintained under continuous Bonner Carrington ownership. The three Cypress Creek communities, totaling 696 units, are income-restricted affordable communities, and the two Mariposa communities, totaling 383 units, are income and age-restricted 55+ active adult communities. Together the communities offer an average unit size of 964 square feet — well above typical affordable product — and a bedroom mix weighted toward the family and active adult configurations that are structurally undersupplied across the market.

Every community in the Portfolio is income-restricted under a Land Use Restriction Agreement and fully exempt from ad valorem real estate taxation through non-profit entity partnership, so long as the structure is maintained — the single largest driver of the Portfolio’s operating margin and a structural advantage that a conventionally owned portfolio cannot replicate. In-place rents sit approximately 26% below the maximum levels the regulatory agreements permit, providing substantial embedded income upside that a new owner can capture entirely within the existing affordability framework. That upside compounds against a rent ceiling that has risen at a rate approaching 7% annually over the past five years.

The Portfolio conveys with $131.6 million of in-place, fixed-rate debt at a 4.05% weighted average interest rate, with maturity dates beginning in 2036. Bonner Carrington will retain a meaningful ownership stake and will continue overseeing the assets on a day-to-day basis, ensuring continuity of operations and direct alignment with the incoming partner. The recapitalization offers a rare combination of durable, formula-driven income, a below-replacement-cost basis, a permanent tax exemption, and long-dated in-place financing sponsored by a proven Texas owner-operator who has developed nearly 6,000 units over the span of four decades.

Cushman & Wakefield has been engaged by Bonner Carrington (the “Sponsor”) as exclusive advisor to arrange the recapitalization of a five-community, 1,079-unit affordable and affordable active adult community portfolio (the “Portfolio”) located across the Austin MSA. The Portfolio presents prospective investors an exceptional opportunity to acquire a significant equity position in institutional-scale, income-restricted housing alongside an experienced sponsor who developed and continues to operate every community in one of the fastest-growing metropolitan areas in the United States.

The Portfolio comprises 1,079 units and approximately 1,039,871 rentable square feet across five communities in four submarkets and three counties: Cypress Creek at Lakeline (Cedar Park), Cypress Creek at River Bend and Mariposa at River Bend (Georgetown), Mariposa at Hunter Road (San Marcos), and Cypress Creek at Stoney Ridge (Del Valle). The communities were delivered between 2003 and 2025 and have been meticulously maintained under continuous Bonner Carrington ownership. The three Cypress Creek communities, totaling 696 units, are income-restricted affordable communities, and the two Mariposa communities, totaling 383 units, are income and age-restricted 55+ active adult communities. Together the communities offer an average unit size of 964 square feet — well above typical affordable product — and a bedroom mix weighted toward the family and active adult configurations that are structurally undersupplied across the market.

Every community in the Portfolio is income-restricted under a Land Use Restriction Agreement and fully exempt from ad valorem real estate taxation through non-profit entity partnership, so long as the structure is maintained — the single largest driver of the Portfolio’s operating margin and a structural advantage that a conventionally owned portfolio cannot replicate. In-place rents sit approximately 26% below the maximum levels the regulatory agreements permit, providing substantial embedded income upside that a new owner can capture entirely within the existing affordability framework. That upside compounds against a rent ceiling that has risen at a rate approaching 7% annually over the past five years.

The Portfolio conveys with $131.6 million of in-place, fixed-rate debt at a 4.05% weighted average interest rate, with maturity dates beginning in 2036. Bonner Carrington will retain a meaningful ownership stake and will continue overseeing the assets on a day-to-day basis, ensuring continuity of operations and direct alignment with the incoming partner. The recapitalization offers a rare combination of durable, formula-driven income, a below-replacement-cost basis, a permanent tax exemption, and long-dated in-place financing sponsored by a proven Texas owner-operator who has developed nearly 6,000 units over the span of four decades.

Cushman & Wakefield has been engaged by Bonner Carrington (the “Sponsor”) as exclusive advisor to arrange the recapitalization of a five-community, 1,079-unit affordable and affordable active adult community portfolio (the “Portfolio”) located across the Austin MSA. The Portfolio presents prospective investors an exceptional opportunity to acquire a significant equity position in institutional-scale, income-restricted housing alongside an experienced sponsor who developed and continues to operate every community in one of the fastest-growing metropolitan areas in the United States.

The Portfolio comprises 1,079 units and approximately 1,039,871 rentable square feet across five communities in four submarkets and three counties: Cypress Creek at Lakeline (Cedar Park), Cypress Creek at River Bend and Mariposa at River Bend (Georgetown), Mariposa at Hunter Road (San Marcos), and Cypress Creek at Stoney Ridge (Del Valle). The communities were delivered between 2003 and 2025 and have been meticulously maintained under continuous Bonner Carrington ownership. The three Cypress Creek communities, totaling 696 units, are income-restricted affordable communities, and the two Mariposa communities, totaling 383 units, are income and age-restricted 55+ active adult communities. Together the communities offer an average unit size of 964 square feet — well above typical affordable product — and a bedroom mix weighted toward the family and active adult configurations that are structurally undersupplied across the market.

Every community in the Portfolio is income-restricted under a Land Use Restriction Agreement and fully exempt from ad valorem real estate taxation through non-profit entity partnership, so long as the structure is maintained — the single largest driver of the Portfolio’s operating margin and a structural advantage that a conventionally owned portfolio cannot replicate. In-place rents sit approximately 26% below the maximum levels the regulatory agreements permit, providing substantial embedded income upside that a new owner can capture entirely within the existing affordability framework. That upside compounds against a rent ceiling that has risen at a rate approaching 7% annually over the past five years.

The Portfolio conveys with $131.6 million of in-place, fixed-rate debt at a 4.05% weighted average interest rate, with maturity dates beginning in 2036. Bonner Carrington will retain a meaningful ownership stake and will continue overseeing the assets on a day-to-day basis, ensuring continuity of operations and direct alignment with the incoming partner. The recapitalization offers a rare combination of durable, formula-driven income, a below-replacement-cost basis, a permanent tax exemption, and long-dated in-place financing sponsored by a proven Texas owner-operator who has developed nearly 6,000 units over the span of four decades.

Cushman & Wakefield has been engaged by Bonner Carrington (the “Sponsor”) as exclusive advisor to arrange the recapitalization of a five-community, 1,079-unit affordable and affordable active adult community portfolio (the “Portfolio”) located across the Austin MSA. The Portfolio presents prospective investors an exceptional opportunity to acquire a significant equity position in institutional-scale, income-restricted housing alongside an experienced sponsor who developed and continues to operate every community in one of the fastest-growing metropolitan areas in the United States.

The Portfolio comprises 1,079 units and approximately 1,039,871 rentable square feet across five communities in four submarkets and three counties: Cypress Creek at Lakeline (Cedar Park), Cypress Creek at River Bend and Mariposa at River Bend (Georgetown), Mariposa at Hunter Road (San Marcos), and Cypress Creek at Stoney Ridge (Del Valle). The communities were delivered between 2003 and 2025 and have been meticulously maintained under continuous Bonner Carrington ownership. The three Cypress Creek communities, totaling 696 units, are income-restricted affordable communities, and the two Mariposa communities, totaling 383 units, are income and age-restricted 55+ active adult communities. Together the communities offer an average unit size of 964 square feet — well above typical affordable product — and a bedroom mix weighted toward the family and active adult configurations that are structurally undersupplied across the market.

Every community in the Portfolio is income-restricted under a Land Use Restriction Agreement and fully exempt from ad valorem real estate taxation through non-profit entity partnership, so long as the structure is maintained — the single largest driver of the Portfolio’s operating margin and a structural advantage that a conventionally owned portfolio cannot replicate. In-place rents sit approximately 26% below the maximum levels the regulatory agreements permit, providing substantial embedded income upside that a new owner can capture entirely within the existing affordability framework. That upside compounds against a rent ceiling that has risen at a rate approaching 7% annually over the past five years.

The Portfolio conveys with $131.6 million of in-place, fixed-rate debt at a 4.05% weighted average interest rate, with maturity dates beginning in 2036. Bonner Carrington will retain a meaningful ownership stake and will continue overseeing the assets on a day-to-day basis, ensuring continuity of operations and direct alignment with the incoming partner. The recapitalization offers a rare combination of durable, formula-driven income, a below-replacement-cost basis, a permanent tax exemption, and long-dated in-place financing sponsored by a proven Texas owner-operator who has developed nearly 6,000 units over the span of four decades.

Cushman & Wakefield has been engaged by Bonner Carrington (the “Sponsor”) as exclusive advisor to arrange the recapitalization of a five-community, 1,079-unit affordable and affordable active adult community portfolio (the “Portfolio”) located across the Austin MSA. The Portfolio presents prospective investors an exceptional opportunity to acquire a significant equity position in institutional-scale, income-restricted housing alongside an experienced sponsor who developed and continues to operate every community in one of the fastest-growing metropolitan areas in the United States.

The Portfolio comprises 1,079 units and approximately 1,039,871 rentable square feet across five communities in four submarkets and three counties: Cypress Creek at Lakeline (Cedar Park), Cypress Creek at River Bend and Mariposa at River Bend (Georgetown), Mariposa at Hunter Road (San Marcos), and Cypress Creek at Stoney Ridge (Del Valle). The communities were delivered between 2003 and 2025 and have been meticulously maintained under continuous Bonner Carrington ownership. The three Cypress Creek communities, totaling 696 units, are income-restricted affordable communities, and the two Mariposa communities, totaling 383 units, are income and age-restricted 55+ active adult communities. Together the communities offer an average unit size of 964 square feet — well above typical affordable product — and a bedroom mix weighted toward the family and active adult configurations that are structurally undersupplied across the market.

Every community in the Portfolio is income-restricted under a Land Use Restriction Agreement and fully exempt from ad valorem real estate taxation through non-profit entity partnership, so long as the structure is maintained — the single largest driver of the Portfolio’s operating margin and a structural advantage that a conventionally owned portfolio cannot replicate. In-place rents sit approximately 26% below the maximum levels the regulatory agreements permit, providing substantial embedded income upside that a new owner can capture entirely within the existing affordability framework. That upside compounds against a rent ceiling that has risen at a rate approaching 7% annually over the past five years.

The Portfolio conveys with $131.6 million of in-place, fixed-rate debt at a 4.05% weighted average interest rate, with maturity dates beginning in 2036. Bonner Carrington will retain a meaningful ownership stake and will continue overseeing the assets on a day-to-day basis, ensuring continuity of operations and direct alignment with the incoming partner. The recapitalization offers a rare combination of durable, formula-driven income, a below-replacement-cost basis, a permanent tax exemption, and long-dated in-place financing sponsored by a proven Texas owner-operator who has developed nearly 6,000 units over the span of four decades.

The Cushman & Wakefield Texas Multifamily Advisory Group and Lument Investment Sales Group are pleased to present the exclusive listing of The Ellington, a 170-unit, 1982-built garden community located in San Antonio, Texas, and Miramar, a 143-unit community built in 1984 and located in Houston, Texas.

The Ellington is proximate to major employment centers, including JBSA’s Fort Sam Houston, San Antonio International Airport, and over 20MM square feet of industrial space. Ellington also gives residents a cost-effective alternative to owning a home, as home prices and mortgage rates have increased drastically. Additionally, The Ellington offers prospective buyers an exceptional opportunity to acquire a property with attractive value-add upside, as 67% of units are not fully upgraded. Ellington also has additional avenues for revenue expansion, including installing washer/dryer appliances in all units.

Miramar is ideally positioned in West Houston, benefitting from proximity to more than 700,000 jobs and two of the city’s major employment centers, the Energy Corridor, and The Galleria. The property represents a compelling value-add opportunity, with 40% of units remaining in classic condition, and multiple avenues for revenue growth including the addition of in-unit washer/dryer appliances and Wi-Fi in all units.

 The Cushman & Wakefield Texas Multifamily Advisory Group is pleased to present a rare opportunity to acquire four lender-owned multifamily assets totaling 376 units across more than 25 acres in established DFW submarkets. The portfolio is available individually or en bloc, offering flexibility for a range of investment strategies and check sizes.

The offering includes The Henley (22 units), The Mirabel (108 units), Westover on 80 (110 units), and Valley Estates (136 units) - a collection of workforce housing communities built between 1963 and 1983 and located in infill residential corridors with direct access to major employment centers, retail, and regional transportation. These are proven locations with durable renter demand and limited competitive new supply at this price point.

Lender control creates a pricing and timeline dynamic rarely available in this market. The portfolio is offered at a basis reflecting current in-place performance rather than stabilized potential. Two of the four assets will deliver vacant in infill Dallas and Fort Worth locations, presenting dual-path optionality: a buyer can execute a full renovation and repositioning program without tenant relocation, phasing constraints, or income disruption — or pursue redevelopment on well-located urban land with an attractive going-in land basis. The remaining assets offer near-term stabilization upside through lease-up and targeted capital improvements.

For investors seeking scale, basis, and a clear operational thesis in one of the nation’s strongest long-term rental markets, the portfolio offers a compelling entry point.

 The Cushman & Wakefield Texas Multifamily Advisory Group is pleased to present a rare opportunity to acquire four lender-owned multifamily assets totaling 376 units across more than 25 acres in established DFW submarkets. The portfolio is available individually or en bloc, offering flexibility for a range of investment strategies and check sizes.

The offering includes The Henley (22 units), The Mirabel (108 units), Westover on 80 (110 units), and Valley Estates (136 units) - a collection of workforce housing communities built between 1963 and 1983 and located in infill residential corridors with direct access to major employment centers, retail, and regional transportation. These are proven locations with durable renter demand and limited competitive new supply at this price point.

Lender control creates a pricing and timeline dynamic rarely available in this market. The portfolio is offered at a basis reflecting current in-place performance rather than stabilized potential. Two of the four assets will deliver vacant in infill Dallas and Fort Worth locations, presenting dual-path optionality: a buyer can execute a full renovation and repositioning program without tenant relocation, phasing constraints, or income disruption — or pursue redevelopment on well-located urban land with an attractive going-in land basis. The remaining assets offer near-term stabilization upside through lease-up and targeted capital improvements.

For investors seeking scale, basis, and a clear operational thesis in one of the nation’s strongest long-term rental markets, the portfolio offers a compelling entry point.

 The Cushman & Wakefield Texas Multifamily Advisory Group is pleased to present a rare opportunity to acquire four lender-owned multifamily assets totaling 376 units across more than 25 acres in established DFW submarkets. The portfolio is available individually or en bloc, offering flexibility for a range of investment strategies and check sizes.

The offering includes The Henley (22 units), The Mirabel (108 units), Westover on 80 (110 units), and Valley Estates (136 units) - a collection of workforce housing communities built between 1963 and 1983 and located in infill residential corridors with direct access to major employment centers, retail, and regional transportation. These are proven locations with durable renter demand and limited competitive new supply at this price point.

Lender control creates a pricing and timeline dynamic rarely available in this market. The portfolio is offered at a basis reflecting current in-place performance rather than stabilized potential. Two of the four assets will deliver vacant in infill Dallas and Fort Worth locations, presenting dual-path optionality: a buyer can execute a full renovation and repositioning program without tenant relocation, phasing constraints, or income disruption — or pursue redevelopment on well-located urban land with an attractive going-in land basis. The remaining assets offer near-term stabilization upside through lease-up and targeted capital improvements.

For investors seeking scale, basis, and a clear operational thesis in one of the nation’s strongest long-term rental markets, the portfolio offers a compelling entry point.

 The Cushman & Wakefield Texas Multifamily Advisory Group is pleased to present a rare opportunity to acquire four lender-owned multifamily assets totaling 376 units across more than 25 acres in established DFW submarkets. The portfolio is available individually or en bloc, offering flexibility for a range of investment strategies and check sizes.

The offering includes The Henley (22 units), The Mirabel (108 units), Westover on 80 (110 units), and Valley Estates (136 units) - a collection of workforce housing communities built between 1963 and 1983 and located in infill residential corridors with direct access to major employment centers, retail, and regional transportation. These are proven locations with durable renter demand and limited competitive new supply at this price point.

Lender control creates a pricing and timeline dynamic rarely available in this market. The portfolio is offered at a basis reflecting current in-place performance rather than stabilized potential. Two of the four assets will deliver vacant in infill Dallas and Fort Worth locations, presenting dual-path optionality: a buyer can execute a full renovation and repositioning program without tenant relocation, phasing constraints, or income disruption — or pursue redevelopment on well-located urban land with an attractive going-in land basis. The remaining assets offer near-term stabilization upside through lease-up and targeted capital improvements.

For investors seeking scale, basis, and a clear operational thesis in one of the nation’s strongest long-term rental markets, the portfolio offers a compelling entry point.