Newmark Arranges Sale of 210-Unit Sofia Apartments in East Austin
AUSTIN, TEXAS — Newmark has arranged the sale of The Sofia, a 210-unit apartment community in East Austin. Built in phases between 1973 and 1983 and renovated in 2019, The Sofia features one- and two-bedroom units with an average size of 723 square feet. Amenities include a pool, outdoor grilling and dining areas, a business center, fitness center, basketball court and a dog park. Jim Young and Chase Easley of Newmark represented the seller, a partnership between Dallas-based Lion Real Estate Group and Los Angeles-based Marble Partners Management LLC, in the transaction. Matt Greer and Andrew Wilson of Newmark arranged acquisition financing through Bridge Investment Group on behalf of the buyer, New York-based RockFarmer Properties.