IPA Sells 279-Unit Apartment Complex in Austin

AUSTIN, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Kenzie at The Domain, a 279-unit, six-story multifamily complex in Austin. Will Balthrope and Drew Kile of IPA advised the seller, StreetLights Residential, and procured the buyer, an institutional investor. The Kenzie is located at 3201 Esperanza Crossing in The Domain, a master-planned development. The Domain includes 1 million square feet of retail, dining and entertainment options and 2.5 million square feet of office space. The Kenzie’s community amenities include a large fitness center, 17,000-square-foot resident entertainment area and a pool and fireside social area. Apartments include 10- or 13-foot ceilings, granite countertops, stainless steel sinks, Energy Star appliances and urban mud rooms.