Newmark announces the Company has arranged the sale and acquisition financing of The Silicon Hills Trio, a 1,027-unit, three-property multifamily portfolio located in the North Austin metropolitan area.
The portfolio comprises The Enclave at La Frontera (411 units), Lakeside at La Frontera (366 units) and Legends Lake Creek (250 units), representing a large-scale value-add opportunity in the highly sought-after Northwest Austin/Round Rock submarket.
Newmark Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the seller, Lynd, in the sale to Knightvest Capital. Vice Chairman Tip Strickland and Vice Chairman David Schwarz arranged acquisition financing on behalf of the buyer.
Built between 2001 and 2004, the portfolio features an average unit size of approximately 936 square feet and presents a compelling value-add opportunity through interior renovations, community enhancements, operational improvements and lease-up potential. The communities offer a range of resident amenities, including resort-style pools, outdoor grilling areas, resident lounges, fitness studios and pet-friendly offerings. Unit features include walk-in closets, full-size washer and dryers and private patios or balconies.
The portfolio is strategically positioned in North Austin’s growing technology corridor, approximately five miles north of The Domain and near Lakeline Mall, providing residents with convenient access to more than 2.9 million square feet of retail, dining and entertainment destinations. The properties also benefit from proximity to major technology employers and convenient access to major thoroughfares, including MoPac Expressway, SH-45, IH-35 and Highway 183.
