Newmark Negotiates Sale of 223-Unit Monroe Apartments in Austin

New York-based JEM Holdings has purchased The Monroe, a 223-unit apartment community in Austin that is still under construction. The deal marks JEM's second acquisition in Austin.

AUSTIN, TEXAS — Newmark has negotiated the sale of The Monroe, a 223-unit apartment community that is under construction in a Qualified Opportunity Zone in Austin’s East Riverside corridor. According to Apartments.com, the newly built property features one- and two-bedroom units and amenities such as a pool, outdoor grilling areas and a business center. Patton Jones of Newmark represented the seller, Dallas-based Stillwater Capital, in the transaction. New York-based JEM Holdings purchased the property for an undisclosed price.