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.