1601 Royal Crest Drive apartment complex Acquisition | Real Estate Services Deal in TX

Freddie Mac has completed the acquisition of 1601 Royal Crest Drive apartment complex, a real estate services other business in Texas, for $9.5 million. The TX acquisitions involve a vacant, multi-building Austin property with 526 apartment units, positioned for neighborhood mixed-use redevelopment near Lady Bird Lake. As a real estate services M&A divestiture acquisition, the real estate services deals TX process centers on selling the foreclosed asset to a new owner through an auction format. The divestiture acquisition is scheduled for June 24, with a $9.5 million opening bid after Freddie Mac took over a prior $50.2 million loan default.