CHICAGO, IL, August 4, 2026 — Providence Real Estate, LLC (“Providence”), a multifamily owner-operator, announced the acquisition of Beck at Wells Branch (“Beck”), a 576-unit multifamily community in Austin, Texas.

Built in 1999, Beck offers one-, two-, and three-bedroom apartment homes with 9-foot ceilings. Property amenities include two resort-style swimming pools, a 24-hour fitness center, a dedicated spin and yoga studio, a Wi-Fi café, and a fireside resident lounge.

The property is strategically located in North Austin near The Domain and the region’s established technology and employment corridor. Major employers in the surrounding area include Dell Technologies’ global headquarters, Apple’s Austin campuses, Samsung, NVIDIA, Meta, and Amazon. Beck is also zoned to the highly regarded Round Rock Independent School District.

Providence intends to implement its proven value-add program at the property, leveraging more than 40 years of multifamily ownership and operating experience. The business plan includes targeted interior improvements, exterior and amenity upgrades, enhanced landscaping, and intensive asset management focused on improving occupancy, enhancing the resident experience, and maximizing long-term asset value.

Providence CEO Alan Pollack stated, “Austin has experienced one of the most significant apartment supply waves in the country, creating near-term pressure on rents and occupancy. However, the market’s long-term demographic, employment, and lifestyle fundamentals remain exceptionally strong. As new deliveries are expected to decline, we believe the market may be positioned for a gradual improvement in operating conditions.”

Providence President Kevin Finkel added, “Beck provides Providence with an opportunity to enter Austin at an attractive basis through the acquisition of a well-located community near many of North Austin’s leading employment centers. Through disciplined operations and targeted capital improvements, we believe we can enhance the property while offering residents renovated, high-quality apartments at rents below those of newly constructed communities.”