Buchanan, Barker Pacific go shopping for Texas multifamily

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Barker Pacific purchased Chesapeake Apartments, a 124-unit apartment complex in Austin, according to a news release. The Los Angeles-based firm made the deal with a Fannie Mae loan serviced by Walker & Dunlop. The buyer plans to spend $1.4 million on updates, including a revamp of the property’s common area and upgrades inside the units, the release said.