AUSTIN, TEXAS — Northmarq has arranged a portfolio sale in Austin consisting of two properties with a total of 38 units. The properties are Redbud Cove, a 15-unit build-to-rent (BTR) community in Westlake Hills and Zilker Place Apartments, a 23-unit community in the Zilker neighborhood. Northmarq’s Austin-based team represented the seller, Rastegar and was led by Will Collier, Jordan Vaughn and Hayden Schnieders. The buyer was Aperture Capital, which assumed a Fannie Mae loan with a 3.5 percent interest rate.
Redbud Cove was built in 1976 and features 15 BTR units, some of which have been renovated to include upgraded flooring and fixtures, stainless steel appliances and granite countertops. Zilker Place Apartments is a 23-unit property that offers studios and one- and two-bedroom floor plans.