Placemakr Announces a Major Expansion Totaling Over 800 Units and Four New Properties in Texas

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May 08, 2024, 09:00 ET

The expansion includes a property acquisition and a new "Hosted by" brand concept to drive geographic growth

WASHINGTON, May 8, 2024 /PRNewswire/ -- Placemakr, a flexible-use hospitality and multifamily operator, today announced a major expansion across Texas with four new property launches, bringing the company's total operations to over 800 units in the state. The expansion includes the acquisition of Placemakr Downtown Austin, formerly named 3Waller, a 259-unit property in the heart of downtown Austin, marking the 6th property acquisition for Placemakr. The expansion also includes Placemakr's first smaller property launch (24 units) as part of a new brand concept, "Hosted by Placemakr." Lastly, Placemakr will also manage its first two exclusively residential properties in Texas. With these launches, Placemakr is investing in Texas as a destination for both work and play, where the tech scene continues to grow.

Placemakr Downtown Austin, will operate as one of the company's core line of apartment-style hotels, providing a blended experience of home and hospitality for short-term and extended-stay travelers. This property combines the best of East Austin and downtown in the lively Rainey Street area with close proximity to the Convention Center. The building features fully furnished studio, 1-bedroom, and 2-bedroom units; and amenities such as an outdoor pool, fitness center, guest lounge, co-working space, and a communal kitchen with dining and entertaining space. CBRE's Austin office, led by Charles Cirar and Colin Cannata advised Placemakr on its acquisition, and the seller, Transwestern Development Company, was represented by JLL. Placemakr Downtown Austin is open for bookings beginning May 8th.

"Our expansion in Central Texas is a pivotal moment in our journey towards redefining home and hospitality. At Placemakr, we envision a future that is flex-use, seamlessly blending home and hospitality through technology; the launch of these properties is a testament to that commitment," said Jason Fudin, CEO and Co-founder of Placemakr. "In an ever-evolving landscape, we remain focused on creating spaces that adapt to the needs of tomorrow, working alongside innovative ownership groups and partners. Our expansion in Central Texas showcases our commitment to this area and our belief in its future as a major hub for business and leisure."

The company is also announcing its newest property concept, Hosted by Placemakr, a line of buildings with less than 75 units per property offering a seamless tech experience and 24/7 virtual support. Littlefield Lofts, Hosted by Placemakr, will be the first property under this brand and will lean on the brand's signature experience of blending home and hospitality within a single building. This property is located in the heart of downtown Austin, overlooking historic 6th Street, and is open for bookings now.

In San Antonio, Placemakr is assuming management of two new residential properties, bringing its signature experiences to the residents of these multifamily buildings. The '68 and 1221 Broadway join Placemakr's San Antonio portfolio, which also includes The Maverick, Powered by Placemakr, an apartment-style hotel already in operation.

For more information on Placemakr's new Texas properties or to book your stay, please visit www.placemakr.com.

About Placemakr
Placemakr is a tech-enabled operating company and real estate investor. The company transforms multifamily properties into a unique blend of apartment living and hospitality and has been the pioneer of this flexible living asset class. Placemakr's innovative tech-enabled platform provides an unmatched experience for its guests and residents, combining the advantages of apartment living with the services and reliability of a hotel, all within a single building. Placemakr's thoughtfully curated spaces in carefully selected neighborhoods offer guests and residents the flexibility to stay for a night, a year, or any duration in between.

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SOURCE Placemakr