June 26, 2020
Institutional Property Advisors (IPA), a division of Marcus & Millichap, finalized the sale of Parkwood Terrace, a 144-unit multifamily asset in the Austin suburb of Round Rock.
IPA’s Jordan Featherston, Will Balthrope, Drew Kile and Drew Garza, along with Kent Myers from Marcus & Millichap’s Austin office, represented the seller, James Pinheiro. The buyer is Beverly Hills-based Langdon Street Capital.
“The North Austin area continues to grow rapidly with new developments such as Apple’s $1-billion campus expansion, The District development, Indigo Ridge, and the Kalahari Resort and Convention Center,” said Featherston.
Built in 2000, the property is 1.1 miles from Interstate 35, which provides access to major employment and retail centers throughout the greater Austin area. Major employers in Round Rock and nearby include Apple Inc., Baylor Scott & White, Dell, Hewlett-Packard and State Farm.
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