AUSTIN—A high-profile closing on Tuesday in the Tech Ridge submarket is proving the area is one of the hottest in Austin.
Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the sale of Springs at Tech Ridge, a 342-unit new construction multifamily property just east of Interstate 35 at 1200 East Parmer Lane, IPA has exclusively told GlobeSt.com. The terms of the sale were not released, and the seller was not disclosed.
The buyer is Weinstein Properties, which has increasingly shown an interest in Austin. The Richmond, VA-based firm has acquired two other multifamily properties this year alone, IMT Anderson Mill (now known as Bexley at Anderson Mill) and Altea at Silverado (now known as Bexley at Silverado).
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