|
|
9/07/26
|
A 1,027-unit, three-property multifamily portfolio located in the North Austin, TX metropolitan area, has traded hands. Known as The Silicon Hills Trio, the portfolio comprises The Enclave at La Frontera (411 units), Lakeside at La Frontera (366 units) and Legends Lake Creek (250 units), was acquired by Knightvest Capital. The purchase represents a large-scale value-add opportunity in the highly sought-after Northwest Austin/Round Rock submarket.
Lakeside at La Frontera, Austin, TX |
 |
|
Built between 2001 and 2004, the portfolio features an average unit size of approximately 936 sf 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 msf 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.
Newmark Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the seller, Lynd, in the transaction. Vice Chairman Tip Strickland and Vice Chairman David Schwarz arranged acquisition financing on behalf of the buyer.
“The Silicon Hills Trio offered investors a rare chance to build scale in one of North Austin's most desirable submarkets," said Jones. "Its proximity to Apple, Dell and Samsung positions the portfolio as a compelling, more affordable alternative to Domain and Arboretum living, with strong value-add upside ahead.”
According to Newmark Research, Austin’s multifamily market is showing signs of stabilization following a period of elevated new supply. The development pipeline has continued to contract from its peak levels, while improving occupancy and renewed rent growth indicate strengthening fundamentals as demand outpaces available supply. Austin’s strong employment base continues to support long-term growth, with the metro ranking as the No. 1 best-performing Top 50 U.S. market for job growth in 2025, adding 27,200 jobs, according to the U.S. Bureau of Labor.
|
|
 Return to the previous page
|
|
|
|
|
Printer-friendly Version
Email an Associate
