Value-Add Cordevalle Attracts Investors in Desirable Round Rock

Cordevalle, a 280-unit garden-style multifamily asset at 650 Louis Henna Blvd. in Round Rock, recently sold. The buyer and sale price were undisclosed. Built in 2014, Cordevalle features a mix of one- and two-bedroom units averaging 789 square feet.

Newmark’s Patton Jones and Andrew Dickson represented the seller, Internacional, in the sale.

“Cordevalle presented investors with a value-add opportunity in the highly desirable Round Rock submarket,” said Jones. “As the cost of single-family housing continues to skyrocket in the Austin MSA, more renters are seeking highly amenitized luxury apartment communities, particularly in first-ring suburban communities like Round Rock. Investors were attracted to Cordevalle’s proximity to major tech campuses and the fact that it is next door to Dell’s U.S. corporate headquarters.”

Cordevalle was marketed as part of the Austin Silicon Hills portfolio along with the Estates at Bee Cave, a 316-unit multifamily asset in nearby Bee Cave that recently sold to an affiliate of Abacus Capital Group for an undisclosed price.