LIV Development Sells 330-Unit Ace to Virginia Buyer
Developer/investor LIV Development sold The Ace, a 330-unit garden apartment in Round Rock, TX, north of Austin. The seller, headquartered in Birmingham, AL, struck a deal with buyer Weinstein Properties, a family owned, multifamily investment firm in Virginia.
Located at 1401 Satellite View, The Ace delivered in 2018, and was 95% occupied at the time of sale. Patton Jones with NKF represented the seller in the transaction.
“As Central Austin and The Domain area continue to become more dense and expensive, renters are seeking this kind of spacious luxury living at more attractive rental rates,” Jones said.
The Ace offers one, two and three-bedroom units. Amenities include an infinity edge pool, multiple outdoor recreation areas, a 24-hour fitness center with yoga and cross-training studios and entertainment spaces. The property also offers a LIV WRKSPACE, offering a rentable office suite with private offices, collaborative space and cubicles.
The Connect Apartments Conference will take place June 20, 2019 in Los Angeles. For more information, or to register, click here.
Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.