Northmarq completes sale of multifamily portfolio totaling 38 units in premier Austin, Texas neighborhoods

AUSTIN, Texas — Northmarq’s Austin, Texas-based Multifamily Investment Sales team — led by Will Collier, Jordan Vaughn and Hayden Schnieders — brokered the sale of a two-property portfolio including Redbud Cove, a 15-unit build-to-rent community in Westlake Hills, and Zilker Place Apartments, a 23-unit community in the Zilker neighborhood.

Northmarq represented the seller, Rastegar. The buyer, Aperture Capital Partners, assumed a 3.54% rate Fannie Mae loan.

"Tremendous credit to all parties for successfully navigating an increasingly stringent loan assumption approval process, which Northmarq was pleased to help facilitate,” said Collier. “We are proud to have supported the seller in achieving a great exit and to have enabled the buyer to secure two generational assets.”

Redbud Cove 

Built in 1976, Redbud Cove features 15 spacious build-to-rent homes in Austin’s West Lake neighborhood. The recently renovated units include upgraded flooring and fixtures, stainless steel appliances, and granite countertops. Select units boast private decks, small yards and wood-burning fireplaces.

The build-to-rent community is located in a top school district, Eanes ISD, and offers residents a wooded escape near downtown Austin.

Zilker Place Apartments

The 23-unit apartment community is located at 2015 Bluebonnet Lane in the Zilker neighborhood. Zilker Place offers studio, one- and two-bedroom apartment homes with upgraded kitchen appliances, quartz countertops, walk-in closets and more.

Situated in the premier Zilker neighborhood, the property provides residents with easy access to shopping, dining and entertainment and a central location minutes from downtown Austin.