ORIX Corp. USA has purchased Strata, a 322-unit luxury asset in Austin, Texas, from Maverick Development Group. In addition, Multi-Housing New reports Franklin BSP Realty Trust issued a $42 million acquisition loan set to mature in 2031.

Strata is part of a six-phase project set to include more than 2,000 units.

ORIX’s new community comprises 12 buildings encompassing studio, one- and two-bedroom layouts that average 875 square feet. Amenities include a business lounge with private work pods, as well as a gym, swimming pool and community room, among other features.

Located at 8340 Bluff Springs Road, Strata is some 10 miles southwest of downtown Austin. The property is also less than 1 mile from Interstate 35. 

Established in 1981, ORIX manages proprietary and investor capital across a wide range of alternative asset classes on the ORIX USA platform and through subsidiaries NXT Capital, Hilco Global, Boston Financial and Lument.

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