Boustead Client Rastegar Property's Acquisition Included in Austin’s South Congress Land Assemblage
Boustead Securities, LLC (“Boustead”) client, Rastegar Property Company, a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the Southwest United States, announced today the acquisition of 106 Red Bird Lane in Austin. The half-acre property is adjacent to and will be included in the Firm’s planned redevelopment for 5402 South Congress, an iconic street in a bustling part of the city.
Lying in a booming section of South Austin, the planned development provides a pathway to the densely populated South Congress and Central business districts that contain a mix of retail, restaurants, bars and concert venues catering to a wide range of customers. Well located, the property is easily accessible to major Austin thoroughfares including IH-35, US 290 and Stassney Lane.
Rastegar's South Congress Multifamily Complex
Red Bird Lane property to be included in land assemblage
“We believe the Red Bird Lane Property will allow Rastegar to bring much needed housing to an ever-expanding section of Austin,” said Ari Rastegar, Founder and CEO of Rastegar Property Company. “The South Congress Corridor is only going to grow as Downtown Austin continues to expand farther south, and this development will be centrally located to all the shops, food trucks and nightlife that make it one of the most desirable sections of the city.” Plans for the site include a wrap style multifamily complex with approximately 155 units. “The development will prioritize street level activation and improvements to continue to bring vibrancy down South Congress,” said Hunter Floyd, Director of Design and Development for Rastegar. “Since we’ve been spending so much time at home, we’re realizing how important it is to have premium indoor air quality. Our South Congress project will emphasize wellness, access to outdoor amenities and environmental air quality, which is especially important post COVID.”
About Rastegar Property Company
Rastegar Property Company is a vertically-integrated real estate company that believes in putting investors first. This philosophy is founded on: building portfolios positioned to generate above market current income and maintain objectives of long-term capital appreciation; cultivating long-term relationships with investors, partners, and organizations; and utilizing the most up-to-date technology and data analysis available. For more information, please visit our website at www.rastegarproperty.com.
About Boustead Securities, LLC
Boustead Securities, LLC (“Boustead”) is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information, please visit www.boustead1828.com.
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