Cedar Park, Texas
Muir Lake is a 332 unit class A apartment community located in the Austin, TX MSA city of Cedar Park, TX. The property was built in 2014 by the Larry Peel Company, who is known for high-quality properties in unique geographically, challenged locations. Muir Lake sits on 64 acres and overlooks a 32-acre lake and a 189-acre recreation area called Lakeline Park. The property was 90% leased at acquisition and offers significant management and repositioning opportunities. The business plan will include enhancing the property’s curb appeal and adding new resident amenities. This undermanaged asset was acquired with a private equity partner and a balance sheet bridge lender.