ARA Newmark Brokers Sale of 230-Unit Apartment Community in Austin

Lakeshore Pearl in Austin was 93 percent occupied at the time of sale.

AUSTIN, TEXAS — ARA Newmark has brokered the sale of Lakeshore Pearl, a 230-unit multifamily community located adjacent to Oracle’s office campus in Austin’s East Riverside area. The property, which features a pool, fitness center, business center, theater room and storage space, was 93 percent occupied at the time of sale. Pat Jones of ARA Newmark represented the seller, an affiliate of Chicago-based Inland Private Capital. Austin-based investment firm Cypress Real Estate Advisors acquired the asset for an undisclosed price.

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