AUSTIN, TX—The recent sale and financing of Regency Park, a 528-unit value-add multifamily asset in south Austin and Travis at the Lake, a 312-unit 2018-built multifamily community in west Austin, were part of a 1031 exchange representing more than $250 million in dispositions and financing. Regency Park has access to downtown and Travis at the Lake has views of Lake Travis.
The Regency Park buyer was Greystar, a rental housing investment, development and management firm that currently owns more than 45 properties in the greater Austin area. The undisclosed Regency Park seller was a private investment group based in Naples, FL.
Newmark Knight Frank vice chairman Patton Jones represented the Regency Park seller. Jones then represented seller San Antonio-based Kairoi Residential in the trade of Travis at the Lake to the Regency Park seller.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
