ORIX USA Buys 1,029-Unit Portfolio Including Dripping Springs Asset
ORIX USA acquired a three-property, 1,029-unit multifamily portfolio for roughly $200 million, including the 241-unit Lookout in Dripping Springs.
ORIX USA acquired a three-property, 1,029-unit multifamily portfolio for approximately $200 million, or $194,363 per unit. The Austin-area asset is Lookout, a 241-unit Class A+ community at 13059 Four Star Blvd. in Dripping Springs. The other properties are The Kendrick, a 423-unit community in Atlanta's Buckhead district built in 1998, and Vic at Jordan Ranch, a 365-unit property in Katy, Texas.
Wayfinder Real Estate developed Lookout, completed in 2025 on a 7-acre site formerly home to Trudy's Four Star restaurant within the Ledgestone master planned community. Davies Collaborative was architect.
The property has 231 one-, two- and three-bedroom apartments plus 10 two-story townhomes, ranging from 568 to 1,547 square feet. Amenities include a rooftop terrace and hilltop views. Units are market-rate.
ORIX plans to stabilize Lookout and invest in technology, amenities and other enhancements.
- Address
- Austin, TX (multi-market)
- Units
- 1,029
- Completion
- 2025
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