Walnut Park Presents Appealing Opportunity for Institutional and Private Buyers

Walnut Park, a 277-unit multifamily property located at 12101 North Lamar Blvd. in the Silicon Hills neighborhood of Austin, recently sold to Langdon Street Capital, a Los Angeles-based real estate investment firm. The price was undisclosed, according to Newmark.

Newmark’s Patton Jones and Andrew Dickson represented the seller, Larry Peel Company, an Austin-based multifamily developer. Langdon Street Capital’s Matthew Steinberg, director of acquisitions, represented the buyer side of the transaction. The property was 97.5 percent occupied at the time of sale.

“Larry Peel Company is known for building exceptional quality multifamily communities on fantastic sites,” said Jones. “Walnut Park – with its excellent location between The Domain and Parmer Austin, as well as the light value-add story – was a particularly attractive opportunity for both institutional and private buyers alike. Langdon Street Capital was already familiar with this well-performing pocket of North Austin and was eager to add Walnut Park to their expanding Austin portfolio.”