At a time when industry analysts and experts are questioning what the real estate market will look like in the aftermath of the COVID-19 pandemic, Rastegar Property Company is still moving full-speed ahead with recession-resilient investments. Taking zero time to put on the brakes, our team has showcased an ability to quickly and responsibly pivot to changing conditions, laying a foundation of security for our family of investors.
While working safely and remotely with attorneys across the country, since the start of the pandemic, Rastegar Property has now closed on three Austin-based deals. These deals showcase the unique position Rastegar holds, as a leader in the Texas real estate market.
Most recently, in May 2020, Rastegar purchased 70 units in Oakview Terrace. Only 4-5 minutes from Mueller Square, we plan to turn the property into newly renovated, livable units, with full completion expected by May 2021.
Also, during the height of uncertainty, on March 30, 2020, we closed on 58 units near the Mueller development area. Renovations will be complete early next year, with work already happening on certain units. Our team is already seeing interest from potential tenants. We know a recession presents the need for more multifamily housing and Rastegar will be ready to meet increased demand.
Want to learn more about Rastegar's current projects? Connect with one of our specialists today!
West Live Oak Street
In April 2020, Rastegar Property acquired 505 and 507 West Live Oak street. The acquisition of two single family houses completes the land assemblage for Rastegar’s South 1st street property. To determine a plan of action for the land, we are currently meeting with architects and city planners. A full announcement is expected in a few months.
Across the U.S., billions of dollars of real estate investments are on hold, with several high-profile companies backing out of deals amid volatility and uncertainty. However, Rastegar is confident in our team’s ability to take advantage of current market advantages, while moving forward and making smart business decisions, with a recession-resilient philosophy that will set the company apart in future months and years to come.