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 downtown Austin, marking the sixth 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. Placemakr will also manage its first two exclusively residential properties in Texas.
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. The building has fully furnished studio, one-bedroom and two-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.
"Our expansion in Central Texas is a pivotal moment in our journey towards redefining home and hospitality," Placemakr CEO and Co-founder Jason Fudin said in a statement. "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. 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's newest property concept, Hosted by Placemakr, is 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.