Newmark has completed the sale and financing of The Sofia Apartments, a 210-unit value-add multifamily property located minutes from downtown Austin, Texas. The property traded from Dallas-based Lion Real Estate Group and Los Angeles-based Marble Partners Management, LLC to New York-based investment firm RockFarmer Properties. Newmark Senior Managing Director Jim Young and Director Chase Easley represented the seller in the transaction. Newmark Vice Chairman Matt Greer and Vice President Andrew Wilson helped arrange the financing from lender Bridge Investment Group on behalf of the buyer.

“The Sofia’s excellent location minutes from downtown Austin in the fast-growing East Riverside district presented investors with a value-add opportunity that was attractive to both institutional and private buyers alike,” said Young. “The asset’s proximity to major employers, including the Oracle and Tesla headquarters, positions The Sofia as a desirable alternative to more expensive downtown living options.”

StreetLights Residential, a national design-focused developer of luxury multifamily and mixed-use communities, announced its latest community, The Langley. Located at 1717 Bissonnet St., The Langley will feature classical, formal architecture to create a timeless building design. StreetLights has partnered with the El Paso-based Hunt Companies, Inc. to design and develop Houston’s newest luxury rental community. Completion is scheduled for 2025.

The community will offer 134 apartment homes in spacious two- and three-bedroom floor plans whose average is just under 3,000 square feet. Combining the valet and concierge services of a five-star hotel and the craftsmanship of a custom home, The Langley is designed to attract long-term residents. Many residents will be making a “smart-size” move from their larger single-family home, with all its accompanying expenses, but desire to remain in the neighborhood they love.

Other StreetLights Houston developments include The James, the first StreetLights Houston community; The Ivy, an award-winning property located next to The James; and The Carter, a modern home experience with the old-world elegance of a historic hotel.

Cushman & Wakefield announced the firm has represented Family Houston in the disposition of ±1.48 acres of land containing a 22,000-square-foot building. Located in Houston’s Washington Corridor, the property sits off the intersection of Shepherd Dr. and Washington Ave. in close proximity to The Heights, River Oaks, and Memorial Park/Rice Military.

Kristen McDade and Matthew Davis of Cushman & Wakefield’s Houston Land Brokerage team represented the seller in the transaction. The property was sold to an undisclosed buyer who plans to utilize the existing building.

“This prime inner loop office building is formerly home to Houston non-profit Family Houston, who has moved more of their operations out into the field,” said Davis. “Their board felt that the organization could be more nimble and better serve its clients without the building.”

Moore, Reichl & Baker, P.C. leased 2,034 square feet at 1400 Broadfield Blvd in Houston, TX. Charles Dorfman with Cushman & Wakefield represented the tenant and Ami Figg represented the landlord, Hartman Income REIT.

Dermagenesis Skin and Body Care leased 2,148 square feet at 11200 Westheimer Rd. in Houston, TX. Andreina Landis with Fathom Realty represented the tenant and Donna Svec represented the landlord, Hartman Income REIT.