Newmark Knight Frank Brokers Sale of Luxury Texas Asset
- May 17, 2019
After recently facilitating the sale of a $120 million LEED Gold-certified midrise in Austin, Texas, Newmark Knight Frank has also brokered the sale of The Ace, a 330-unit luxury, garden-style community in Round Rock, Texas. NKF Vice Chairman Patton Jones represented seller LIV Development. Weinstein Properties is the new owner of the Class A asset.
Located at 1401 Satellite View, The Ace is within 3 miles of Interstate 35 and the University Oaks shopping center. Major employers in the area include Dell Technologies, Apple and Samsung. Downtown Austin is within 25 miles of the community.
Completed last year, the property spreads across more than 14 acres and encompasses 15 buildings. The one-, two- and three-bedroom units average 918 square feet, according to Yardi Matrix data. Amenities include a swimming pool, multiple outdoor recreation areas, a 24-hour fitness center with yoga and cross-training studios, as well as a rentable office suite complete with private offices, collaborative space and cubicles. The Ace was 95 percent occupied at the time of the sale.
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