Real estate agency Barker Pacific Group announced Dec. 17 that it acquired northwest Austin apartment complex Chesapeake Apartments.

BPG acquires assets that need hands-on management, renovation and repositioning, per a news release.

The Chesapeake acquisition will include $1.4 million in common area renovations and unit interior upgrades. Alex Bacon, vice president of multifamily at BPG, said the renovations will take three to five years and include:
  • Exterior painting, siding and metal work
  • Landscaping and pool work
  • HVAC, plumbing and electrical updates in buildings
  • Flooring, paint, cabinetry and appliance upgrades in units
The 124-unit complex was built in 1984 and features seven two- and three-story buildings with one- and two-bedroom units.