The recently closed property transaction in Austin involved the sale of a multifamily asset comprising 277 units located at 12101 North Lamar Boulevard. The property, known as Walnut Park, is situated between The Domain and Parmer Austin, offering an excellent location in the thriving North Austin area. The sale took place on November 18, 2021, with Langdon Street Capital as the buyer and Larry Peel Company as the seller.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: Not disclosed
• Market: Austin
• Units: 277

Representing the buyer, Langdon Street Capital, were Matthew Steinberg and Adam Daneshgar from the same company. They were attracted to the opportunity presented by Walnut Park due to its favorable location and the potential for value-add enhancements. The buyer already had knowledge of the high-performing North Austin market and was keen to expand their portfolio with this acquisition. On the seller's side, Patton Jones and Andrew Dickson, affiliated with Newmark, represented Larry Peel Company in the transaction.

The buyer's representatives expressed their confidence in the Austin economy, having purchased 900 apartment units over the past two years. Langdon Street Capital remains optimistic about future growth and aims to further expand its portfolio in the coming months.

It is worth noting that Larry Peel Company is renowned for developing top-quality multifamily communities in prime locations, and Walnut Park exemplifies their commitment to excellence in construction and design.