perch

Light and bright institutional motif that today’s modern renter desires, complemented with mature landscaping and greenery throughout both interior and exterior amenities Eclectic, modern clubhouse ambience with plenty of meeting areas, private rooms, event spaces and highlighted by the Golden Hour, chef-driven coffee & wine bar Immense floor plan options and both garden/high density building variations creating diverse living experiences. Unique architecture with board and batten siding/brick integration, large window inserts on building corners, ear-tagged modern building signage, subterranean private yards, accented awning elements and roof mounted A/C condensers for cleaner curb appeal. Sunken dwelling feel of the main amenity area and leasing center built into the topography, sunken pool design helping reduce noise reverberation off of Menchaca Road.

Popular wine bar and café on site, the ultimate multifamily amenity

The past five years in Austin have brought unprecedented growth to the city with many new developments, entertainment districts, and corporations taking shape across the MSA. Downtown, South Congress, East Austin, and the Domain account for a large portion of the growth, however, other regions have established their own growth story and now feature new places that otherwise would have remained closer to the city center. The St. Elmo District and the South Menchaca Entertainment District are two examples of this dynamic and both areas now feature a lively music & nightlife scene. These two regions provide residents of South Austin new venues to go to that are easier to access than the larger entertainment districts and provide a more affordable experience. “Each (new venue) one has added to the overall vibrancy and appeal of the area as an entertainment destination that offers a diverse range of options in terms of live music, food trucks and events,” said Cyndy Karras, president of the Sweetwater Glen Homeowners Association, regarding the entertainment expansion of south Menchaca. As more venues continue to crop up, existing residents will continue to enjoy having greater lifestyle, entertainment, and food establishments closer to their community, and these new areas will draw tenants seeking a similar lifestyle to Austin’s larger entertainment districts at a more affordable price.

FLANKED BY THE CBD AND SOUTH AUSTIN ENTERTAINMENT DISTRICTS, EMPLOYERS

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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. © 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.

Carl Rasmussen

Associate Director 713.469.4514 carl.rasmussen@berkadia.com

Tucker Knight

Senior Managing Director 713.469.4515 tucker.knight@berkadia.com

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Managing Director 512.226.8711 justin.cole@berkadia.com

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Senior Director 512.226.8718 michael.gonzalez@berkadia.com

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Senior Managing Director 512.226.8706 kelly.witherspoon@berkadia.com

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Adam Sumrall

Director 512.960.2674 adam.sumrall@berkadia.com

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Andy HilL

Managing Director 512.226.8705 andy.hill@berkadia.com

DEVELOPMENT BARRIERS IN THE IMMEDIATE MICROMARKET, INCLUDING SOUTHWEST AUSTIN

Southwest Austin is an extremely sought-after living area well-known for its natural elegance and raw beauty of the nearby Texas Hill Country. The inherent sensitivity of the natural environment along with the City of Austin’s strict development regulations make it very challenging to develop new projects in the area. Additionally, there appears to be sizable amounts of undeveloped land in close proximity west and beyond of Perch, however a significant amount of that land lies in the Edwards Aquifer Recharge Zone. Due to the vulnerability of pollution through excessive development, the city of Austin is extremely sensitive to larger amounts of development in Southwest/West Austin making it the most difficult region for development in the entire Austin MSA. To substantiate that, the city of Austin controls over 3,000 acres to ensure long-term preservation.

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