Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Texas  + Austin  + Apartments  | 
Investors Gravitate to Nexus East’s Location in the Heart of East Austin

Investors Gravitate to Nexus East’s Location in the Heart of East Austin

Nexus East, a newly constructed 352-unit luxury multifamily asset in Austin, recently sold to an affiliate of Treeline Multifamily Partners Ltd., according to Newmark. The purchase price was undisclosed.

The seller was a partnership between Ardent Residential, an Austin-based real estate development firm specializing in multifamily properties, and DDelta Development based in Monterrey, Mexico. Newmark’s Patton Jones and Andrew Dickson represented the seller in the transaction.

Newmark’s Timothy Weldon helped secure the acquisition financing on behalf of the buyer. Newmark’s Central Texas Multifamily group was also involved in raising the equity for the site in 2019.

“Investors were intrigued by Nexus East’s location in the heart of East Austin, surrounded by some of our city’s best recreation and restaurants,” said Jones. “The nearly 3.5 million square feet of office space recently delivered, under construction or proposed, further enhanced the investment opportunity as buyers saw how Nexus East sits in the middle of a developing live/work/play environment. This will be an outstanding addition to Treeline’s rapidly growing Central Texas portfolio.”

Nexus East, which delivered in 2021, features a mix of studio, one- and two-bedroom units, and was 90 percent leased at the time of sale.

Connect

Inside The Story

Patton Jones

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition
Money360-23-cube
New call-to-action
Money360-24-cube