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Austin Developer Starts REIT To Buy Older, Smaller Sun Belt Apartments Overlooked by Other Investors

REIT To Target Segment That Hasn’t Been 'Picked Over' by Private Equity
Rastegar Property Company bought this 36-unit property in Austin, Texas, last March. (CoStar)
Rastegar Property Company bought this 36-unit property in Austin, Texas, last March. (CoStar)
CoStar News
February 2, 2021 | 11:01 P.M.

A developer in Austin, Texas, is launching a real estate investment trust to buy apartments in the Sun Belt and capitalize on the fast-growing cities and suburbs that are attracting new residents thanks to the expansion of technology companies and other corporate relocations.

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News | Austin Developer Starts REIT To Buy Older, Smaller Sun Belt Apartments Overlooked by Other Investors