Multifamily

AUSTIN, TEXAS — Houston-based Live Oak Capital has brokered the sale of The Robertson Hill Apartments, a 290-unit multifamily property located in Austin. The Class A apartment community was developed by Houston-based Martin Fein Interests and was completed this year. It is situated just east of Austin’s central business district, between East Ninth Street and East 11th Street. Hal Holliday and David Aaronson of Live Oak represented the seller, Houston-based Robertson Hill Apartments LP. The property was acquired by an undisclosed institutional investor.

DUNCANVILLE, TEXAS — Marcus & Millichap has completed the sale of Wexford Townhomes, a 122-unit townhome community located at 600 Wembley Circle in Duncanville. Occupancy for the property was approximately 95 percent at the time of closing. Al Silva of Marcus & Millichap’s Fort Worth, Texas, office and Kelley Sparkman of the firm’s Dallas office represented the seller, a Florida-based private investment group. The buyer, an out-of-state private investor, purchased Wexford Townhomes to satisfy a 1031 exchange and assumed an interest-only loan for the property that carries a 6.18 percent interest rate. The acquisition price was not disclosed.

FORT WORTH, TEXAS — The Dallas office of PNC ARCS has secured a $2.7 million loan for Willow Glen Apartments, a 168-unit multifamily community located in Fort Worth. The community is situated on more than 7 acres; amenities include a clubhouse, a swimming pool, a Jacuzzi, two laundry facilities and a playground. The loan carries a 10-year term, a 30-year amortization schedule and a 6 percent fixed interest rate. The lender was Fannie Mae; the borrower was undisclosed.