Seven RIO apartments attract investor to Austin

AUSTIN – Behringer Harvard announced its investment in Seven RIO, a $60.7 million, 220-unit luxury high-rise multifamily community slated for development in the West Sixth Street District of Downtown Austin.

The development site is on West Seventh St., on the northeast corner of its intersection with Rio Grande.

The apartment homes will offer one or two bedrooms, up to two baths, and be an average of 924 sf each.

Behringer Harvard Multifamily REIT I Inc. has provided 90 percent equity capital for the construction of the 24-story luxury tower, which will begin soon.  

CWS Capital Partners LLC, a real estate investment firm with co-headquarters in Austin and Newport Beach, Calif., will serve as the developer for Seven RIO. During the last decade, CWS Capital Partners has developed approximately 3,000 multifamily units, primarily in the Southwest.