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September 18, 2020 Comments Off on NKF’s Patton Jones Arranges Sale and 1031 Deal Views: 702 Austin, Texas News

NKF’s Patton Jones Arranges Sale and 1031 Deal

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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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