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ROUND ROCK, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Parkwood Terrace, a 144-unit multifamily community located in the northern Austin suburb of Round Rock. Built in 2000, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center and resident clubhouse. Jordan Featherston, Will Balthrope, Drew Kile, Drew Garza and Kent Myers of IPA represented the seller, private investor James Pinheiro, in the transaction. Los Angeles-based investment firm Langdon Street Capital purchased the asset for an undisclosed price.