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NKF’s Patton Jones Arranges Sale and 1031 Deal

Newmark Knight Frank arranged the sale and financing of Regency Park–a 528-unit value-add multifamily asset in south Austin–and Travis at the Lake–a 312-unit, 2018-built luxury multifamily community in west Austin. Combined, the transactions represented more than $250 million in dispositions and financing.

NKF vice chairman Patton Jones represented an undisclosed seller, a private investment group based in Naples, FL, in the sale of Regency Park to Greystar. In a 1031 exchange, Jones then represented San Antonio-based Kairoi Residential in the trade of Travis at the Lake to the undisclosed seller of Regency Park. Additionally, both dispositions were financed by Matt Greer, Austin-based executive managing director in NKF’s multifamily capital markets debt and structured finance group.

Of the transactions, Jones said, “This was a unique situation that began as a discussion about refinancing and then led to a value-add sale and 1031 exchange acquisition of another property.”

Pictured: Travis at the Lake.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition