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AUSTIN, TEXAS — Newmark has brokered the sale of Water Oak, a 292-unit apartment community in South Austin. Built in 2022, Water Oak offers studio, one-, two- and three-bedroom units. Amenities include a pool, outdoor grilling and dining stations, a dog park and pet spa, clubhouse, entertainment kitchen, movie theater, business center with conference rooms and a fitness center. Austin-based JCI Residential sold the property to Chicago-based Sherman Residential for an undisclosed amount. Patton Jones and Andrew Dickson of Newmark brokered the deal.