A South Austin apartment complex has been sold and will operate under a new name under new ownership.
New York City's Newmark Group has arranged the sale of the Park on Brodie Lane, a 290-unit apartment community in the Sunset Valley neighborhood.
The recently renovated property on 29 acres at 6607 Brodie Lane has a pool, an outdoor grilling and dining area, a fitness center, a dog park, volleyball and basketball courts, and a clubhouse with a coffee bar. It was 97 percent leased at the time of sale.
Charlotte-based Barings Real Estate sold the property to Florida developer Mill Creek Residential, which has has rebranded it Alister Sunset Valley. Patton Jones and Andrew Dickson of Newmark represented the seller. Matt Greer and Andrew Wilson, also with Newmark, arranged an undisclosed amount of acquisition financing on behalf of Mill Creek.
