all 6 comments

[–]SMCAB 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

If the useful idiots could just understand slippery slope.

Wait, then they wouldn't be useful idiots?

To hell with it. Buy Ammo.

[–]TitsAndWhiskey 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (0 children)

Lol I can’t imagine doing anything but laughing at this or ignoring it.

[–]Drewski 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (0 children)

Yeah this sounds totally illegal, if it's not in the lease I'd totally be ignoring it and looking for a new place to live. Actually I'd be ignoring it either way.

[–]CrazyjanecreepyjeffReality Monger 6 insightful - 1 fun6 insightful - 0 fun7 insightful - 1 fun -  (1 child)

Ah so is this the unsaid end game of Blackstone buying up all the housing? Wonder who owns this complex.

[–]Centaurea 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

You're in the right ballpark. The current owners are the real estate investment firms Lion Real Estate Group, LLC and Marble Partners, who acquired the property in 2019 from Castle Lanterra Properties in a joint venture with Aegon Real Assets US, a division of Aegon NV, a multinational life insurance, pensions and asset management company headquartered in the Netherlands.

https://www.globest.com/2019/09/29/lion-and-marble-plan-further-renovations-for-array/?slreturn=20230515014927

From the Lion Real Estate Group website:

Lion Real Estate Group, LLC (“Lion”) is a real estate investor and operator focused on the acquisition of multifamily properties in the nation’s fastest growing markets. Lion creates value for its investors by leveraging its expertise in acquisition, renovation, management, and optimum capitalization of its properties. Lion caters to high net worth individuals and family offices.

Our Track Record

Lion has a proven proven track record in achieving outsized returns, with an average gross IRR of 41.7% and an average gross equity multiple of 2.1x. Since inception in 2007, Lion has acquired 107 properties (11,044 multifamily units), invested over $450MM of equity on behalf of investors. Currently, Lion has over $1.1 billion assets under management.

https://www.lionreg.com/investors.aspx

And from the Marble Partners website:

Marble Partners is a real estate investment company that acquires value-add multifamily assets in high growth primary and secondary markets across the United States. Marble Partners invests on behalf of institutions, family offices, private investors, and a series of funds.

The Company is involved in all stages of the investment process including deal sourcing, acquisitions & dispositions, conducting due diligence, sourcing debt and equity, and property, asset, and construction management.

The principal of Marble Partners has acquired 7,208 units and invested $472M of total equity totaling $1.4B of total capitalization.

https://www.marblepartners.com/about/

[–]stickdog[S] 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

Excerpt:

Neighbors at a southeast Austin apartment complex are complaining after a mandatory curfew was put in place with very little explanation.

Residents of the Array Apartments said they were not notified of any issues. Now they're wondering if the move is even legal.

The curfew lasts from 10 p.m. until 5 a.m. every night for people living at the complex. During that timeframe, residents are not allowed to leave their homes.

"Make sure you have your provisions before 10 p.m. Sounds like I'm in some hurricane area where they have martial law," said Kristie Broadaway, an Array resident.

Broadaway has been a tenant at the Array Apartments for the last eight years with little to no issues.

...