StoryBuilt

StoryBuilt, an urban infill specialist developing communities in Austin, Texas, Seattle, and Denver, entered a joint venture with Partners Group, a global private markets firm, acting on behalf of its clients.

“Partners Groups offers StoryBuilt a bold future where we can fast-track our growth and steadily increase our real estate acquisitions and development,” says Anthony Siela, co-founder of StoryBuilt. “Strategically, this joint venture propel StoryBuilt forward in its goal to serve the current future residents of the most dynamic neighborhoods and cities in the United States while becoming a leading national infill developer, owner, and operator of residential and mixed-used communities.”

The joint venture will capitalize and develop 17 of StoryBuilt’s existing pipeline projects in addition to funding future acquisitions and development across the company’s four operating markets. In aggregate, the joint venture is expected to capitalize and complete more than $1 billion of multifamily, residential for sale, and mixed-use real estate projects over the next four to seven years.

“We see strong thematic investing opportunities in the residential market across growth cities,” says Scott Egarian, member of management, private real estate Americas, for Partners Group. “Growth cities, such as Austin, Dallas, Denver, and Seattle, are often characterized by rising populations and vibrant economies. The lack of housing in these cities, especially in the infill market closest to urban cores, should underpin demand in the years ahead. We believe StoryBuilt has the right proposition and look forward to working with the team as we execute on an existing pipeline of projects and look for new acquisitions.”

StoryBuilt, launched in Austin in 2001, has infill development projects ranging from single-family home communities to 10-plus acre master-planned communities, including apartments, townhomes, condominiums, and mixed-use commercial buildings. The company has built more than 50 communities since its formation.