AUSTIN--ARA, A Newmark Co. has brokered the sale of Wellington Palms, an 86-unit community located in five miles north of downtown Austin.
Situated two miles from the new 711-acre Mueller redevelopment project, occupancy at the time of the sale was 100 percent.
ARA Newmark executive managing director Andrew Shih represented the seller, a private partnership out of Los Angeles, and the buyer was GVA, a local real estate investment firm specializing in value-add opportunities in rapidly gentrifying locations.
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