Newmark announces it has completed the sale of Walnut Park, a 277-unit, luxury multifamily property located at 12101 North Lamar Boulevard in the ‘Silicon Hills’ neighborhood of Austin, Texas.

Newmark Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the seller, Larry Peel Company, an Austin-based multifamily developer, in the sale to buyer, Langdon Street Capital, a Los Angeles-based real estate investment firm. Langdon Street Capital’s Director of Acquisitions Matthew Steinberg represented the buyer side of the transaction. The property was 97.5% occupied at the time of sale.

“Larry Peel Company is known for building exceptional quality multifamily communities on fantastic sites,” said Jones. “Walnut Park–with its excellent location between The Domain and Parmer Austin, as well as the light value-add story–was a particularly attractive opportunity for both institutional and private buyers, alike. Langdon Street Capital was already familiar with this well-performing pocket of North Austin and was eager to add Walnut Park to their expanding Austin portfolio.”