The Leander property will include 244 homes.
Marcus & Millichap worked on behalf of the seller and procured the buyer.
The Phoenix-area community represented a value-add opportunity for the buyer.
Marcus & Millichap brokered the transaction.
The Mark Parsippany last traded in 2020.
The buyer of the Littleton property benefited from a Freddie Mac loan.
The development is slated to wrap up in 2024.
The 246-unit community came online last year.
The development is expected to be delivered in 2024.
The property last traded in 2019 for $21.8 million.