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AUSTIN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap that serves institutional and major private real estate investors, has brokered the sale of Springs at Tech Ridge, a 342-unit apartment community located at 1200 E. Parmer Lane in Austin. The newly constructed property features 21 different one-, two- and three-bedroom floor plans with an average unit size of 967 square feet. Springs at Tech Ridge’s community amenities include a fitness center, resort-style swimming pool and a community garden. Will Balthrope and Drew Kile of IPA represented the seller and procured the buyer. The terms of the sale were not released.