Newmark announces the sale of Citizen House Decker—a 324-unit luxury multifamily property in East Austin, Texas which delivered in 2021. Newmark Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the seller, Austin-headquartered commercial real estate company Endeavor Real Estate Group, in the sale to buyer, Toronto-based real estate advisory company Prism Multifamily Group. The purchase of the property—which has been rebranded as Spectra Parks—represents Prism’s first multifamily acquisition in the Austin market.

“Investors were attracted to the property’s East Austin location proximate to downtown; the nightlife of East 4th, 5th and 6th Districts, as well as the new Tesla facility under construction roughly four miles away,” said Jones. “The nearly 3.5 million square feet of nearby office space recently delivered, under construction or proposed further enhanced the investment opportunity, as the property sits in the middle of a developing live/work/play environment.”

The property’s community amenities include a resort-style pool with grills and dining area, a resident lounge with kitchen, co-working spaces and an arcade, as well as a full-equipped fitness and community center. Interior features include stainless steel appliances, granite countertops and oversized walk-in closets in each unit.

Located at 5301 Decker Lane, the property is within minutes of downtown Austin and major employers including Tesla, Amazon, Oracle and Dell Children’s Medical Center. The property is also proximate to the 700-acre Mueller Mixed-Use District which offers ample retail, dining and entertainment and newly developed Class A office space. The community is surrounded by parks, walking trails and picnic areas.

According to Newmark Research’s 3Q21 U.S. Multifamily Capital Markets report, markets throughout the Southwest have been some of the strongest performers in overall market returns over the past 12 months. Austin’s annualized total market return was 16.7%, more than 3 percentage points above the U.S. average for all markets.

Newmark announces the sale of Magnolia Heights, a 149-unit, mid-rise, trophy multifamily property in Alamo Heights, Texas, a suburb of San Antonio. Newmark Vice Chairman Patton Jones and Managing Director Matt Michelson represented the seller, Cypress Real Estate Advisors (CREA), an institutional investment firm focusing on residential and mixed-use properties, in the sale to the buyer, a separate account fund managed by New York-based Clarion Partners. The property was 98% occupied at the time of sale.

“Magnolia Heights attracted institutions and private family offices seeking a trophy asset in the highly coveted City of Alamo Heights,” said Jones. “We continue to see top-tier investors targeting core properties in supply-constrained urban locations.”

Austin, TX (Dec. 14, 2021) — Newmark announces it has completed the sale and financing of Nexus East, a newly constructed, 352-unit luxury multifamily asset in Austin, Texas. The seller was a partnership between Ardent Residential—an Austin-based real estate development firm specializing in multifamily properties—and Delta Development, based in Monterrey, Mexico. The purchaser was an affiliate of Treeline Multifamily Partners Ltd. (“Treeline”), a privately-held real asset investment management firm.

Newmark Vice Chairman Patton Jones and Managing Director Andrew Dickson represented the seller in the transaction. Newmark Executive Managing Director Timothy Weldon of the firm’s Debt and Structured Finance group helped secure the acquisition financing on behalf of the buyer. Newmark’s Central Texas Multifamily group was also involved in raising the equity for the site in 2019.

“Investors were intrigued by Nexus East’s location in the heart of East Austin, surrounded by some of our city’s best recreation and restaurants,” said Jones. “The nearly 3.5 million square feet of office space recently delivered, under construction or proposed further enhanced the investment opportunity as buyers saw how Nexus East sits in the middle of a developing live/work/play environment. This will be an outstanding addition to Treeline’s rapidly growing Central Texas portfolio.”

“The teamwork and dedication of Treeline and affiliates of Apollo Global Management led to an extremely efficient transaction,” said Weldon. “We were able to deliver favorable terms and a quick close.”

Nexus East, which delivered in 2021, features a mix of studio and one- and two-bedroom units and was 90% leased at the time of sale. Unit interiors feature high ceilings, vinyl wood plank flooring, gourmet kitchens and smart home packages. Property amenities include a resort-style pool, rooftop amenity deck with entertaining kitchen, modern clubhouse, spacious co-working space, fitness facility, bike storage rooms, putting green and large dog park and pet wash.

Located at 720 Airport Boulevard—at the confluence of Airport Boulevard, Highway 183 and East Seventh Street—Nexus East is just eight minutes from Austin’s CBD and five minutes from Austin-Bergstrom International Airport (ABIA). Additionally, the property is minutes from Tesla’s $1.1-billion automotive manufacturing facility currently under construction.

According to Newmark Research, 268,331 multifamily units were absorbed nationally during the third quarter of 2021, marking the highest quarterly absorption figure in history. As employees return to the office and the cost to own single-family homes continues to rise, rental housing is anticipated to see increased demand, supporting strong levels of rent growth through the end 2022. Austin ranked sixth among major U.S. metros for year-over-year effective rent growth—with rents rising 18.1%—for the 12 months ending in third quarter 2021.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. Newmark’s company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark

Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

Press Contact:
Lizzy Mahan
t 303-260-4437
lizzy.mahan@nmrk.com

(Hutto, Texas) – VLK Architects will join the Hutto Independent School District and Joeris General Contractors to honor the official unveiling of the new Hutto Memorial Stadium this Friday, December 10th, 2021 at 6 p.m. The Hutto Memorial Stadium facility upgrades will meet the needs of the community’s growing population for many years to come.

The stadium additions and renovations included in the voter-approved 2019 Bond incorporate seating for 10,000 patrons, a new visitors field house, new home and visitors concessions and restroom facilities, an enhanced LED video display board, a new multi-level press box and film deck, and additional site upgrades to support these facilities.

“On behalf of the Board of Trustees, we introduce and welcome the Hutto community to its newest and most visible district facility,” said Celina Estrada Thomas, Ph.D., Superintendent of Hutto ISD. “We are proud of the architectural design by VLK Architects and the final building by Joeris Construction. Hutto Memorial Stadium is so much more than an athletic venue, it is also a prime teaching and learning site, a place where students realize their hopes and dreams for the future, and a place where everyone is family. We look forward to hosting our students, families, community members, and hundreds of future hippos in the years ahead.”

Five years ago, the stadium was renamed Hutto Memorial Stadium in honor of veterans and first responders. The new field house is named after Kyle G. West, a former Hutto High School student who gave his life serving our country in Operation Desert Storm. Plaques honoring each branch of the military are displayed on a wall inside the stadium, and a chair is designated on the front row of the home-side grandstands to honor prisoners of war and those missing in action.

“Hippo pride is incorporated in the stadium’s design,” said Todd Robison, Director of Purchasing for Hutto ISD. “Austin-based VLK Architects did a good job ensuring the stadium has ‘the Hutto look’ such as a silo appearance. We identify with being a unique, and so we want our new stadium to have some uniqueness to it as well.”

Despite inflation in the construction industry and weather-related setbacks, the project team relentlessly worked to complete the final changes on the stadium. The total price for the renovations and additions to Hutto Memorial Stadium was $18 million.

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About VLK Architects: With offices throughout Texas, VLK Architects provides architecture, planning, and interior design services to automotive, K-12, higher education, corporate, and institutional clients throughout Texas. For more information, please visit our website: www.vlkarchitects.com or contact 817-344-0344 or tbartley@vlkarchitects.com.

Taylor Bartley
Social Media Specialist
VLK|ARCHITECTS
o: 817.633.1600 | d: 817.334.0344

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.”

December 8, 2021 (Dallas, TX)—Crayon Software Experts USA (Crayon) have signed a long-term, full-floor lease at 12221 Merit Drive in Dallas, TX. The software company, beginning in 2022, will occupy 21K square feet of class-B office space on the 14th floor of the Three Forest Plaza office building owned by the Texas-based REIT and commercial property owner, Hartman Income REIT Management, Inc. (Hartman).

The new custom office space build-out will be overseen by Hartman’s Regional Construction Manager,
Heather MacGillis and Chris Bogard with Clements Constructions will be the general contractor. The office will feature three large training rooms with wireless capabilities and etched glass doors with the company logo. A large kitchen with state-of-the-art appliances to accommodate staff will also be installed.

The offices in the suite will feature wrap-around windows with views of the Dallas skyline, and the interior office space will exhibit an open concept and modular furniture.

Speaking about Crayon’s footprint expansion, Senior Vice President of Software Cloud Optimization, Glenn Orcutt commented, “Crayon is experiencing explosive growth in the United States, and our ability to scale is crucial. Hartman has been a great partner to our Dallas HQ, providing a smooth and positive experience while supporting our growth needs.”

This is the latest of a series of large tenants signing new leases at Hartman properties. The commercial real estate landlord has recorded a record-breaking number of leases signed in 2021 with a total of over 800,000 square feet leased as of October 31, 2021. President & CEO, Al Hartman, commented “We have executed well and outmaneuvered our competitors during challenging market conditions. We are very proud of the velocity of leases we have signed this year and thrilled that Crayon chose a Hartman building for their new office.”

In lease negotiations with Hartman, Crayon Executives Glen Orcutt and Ken Farr represented the software company, and Richard Maloof, Executive Vice President of Leasing, represented Hartman.

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About Hartman:
Hartman is a premier property management company in the Houston, Dallas, and San Antonio markets with more than 59 properties totaling over eight million square feet. Hartman has owned and operated commercial office properties since 1983, offering premium office space at attractive rates. With more than 38 years of commercial leasing expertise in Houston, San Antonio, and Dallas, Hartman knows exactly what their customers require. For more information, visit www.hi-reit.com.