Newmark Arranges Sale and Financing of 1,027-Unit Silicon Hills Trio Multifamily Portfolio in North Austin

Newmark has arranged the sale and acquisition financing of the Silicon Hills Trio, a 1,027-unit, three-property multifamily portfolio located in the Northwest Austin/Round Rock submarket of North Austin. Lynd sold the portfolio to Knightvest Capital in a transaction that underscores continued institutional appetite for value-add multifamily assets in Austin's technology employment corridor.

The Portfolio: Three Garden Communities in North Austin's Tech Corridor

The Silicon Hills Trio comprises three early-2000s garden-style apartment communities: The Enclave at La Frontera (411 units) at 2800 La Frontera Blvd in Round Rock; Lakeside at La Frontera (366 units) at 941 Hesters Crossing Rd in Round Rock; and Legends Lake Creek (250 units) at 10015 Lake Creek Pkwy in Austin. Built between 2001 and 2004, the properties share an average unit size of approximately 936 square feet and offer one- to three-bedroom floor plans.

The two Round Rock assets — Enclave at La Frontera and Lakeside at La Frontera — sit within the La Frontera master-planned development and form a contiguous two-property cluster along La Frontera Boulevard and Hesters Crossing Road. Legends Lake Creek is located in northwest Austin near the Lake Creek Parkway corridor. All three properties are positioned approximately five miles north of The Domain and near Lakeline Mall, providing residents access to more than 2.9 million square feet of retail, dining and entertainment. The portfolio benefits from proximity to major technology employers including Apple, Dell and Samsung, as well as direct access to MoPac Expressway, SH-45, IH-35 and Highway 183.

Community amenities across the portfolio include resort-style pools, outdoor grilling areas, resident lounges, fitness studios and pet-friendly offerings. Unit features include walk-in closets, full-size washers and dryers, and private patios or balconies.

Newmark Team

Newmark Vice Chairman Patton Jones and Managing Director Andrew Dickson represented Lynd in the sale. Vice Chairman Tip Strickland and Vice Chairman David Schwarz arranged acquisition financing on behalf of Knightvest Capital.

"The Silicon Hills Trio offered investors a rare chance to build scale in one of North Austin's most desirable submarkets," Jones said. "Its proximity to Apple, Dell and Samsung positions the portfolio as a compelling, more affordable alternative to Domain and Arboretum living, with strong value-add upside ahead."

Value-Add Strategy and Knightvest Capital's Acquisition Thesis

Knightvest Capital is acquiring the portfolio as a value-add opportunity, with the business plan centered on interior renovations, community enhancements, operational improvements and lease-up potential. The three properties are being rebranded under Knightvest: Enclave at La Frontera to Brixton, Lakeside at La Frontera to Calder, and Legends Lake Creek to Sutton.

Lynd originally acquired the three-property Texas portfolio in 2020 as part of a transaction valued at over $150 million, pairing the purchase with a planned $15 million capital expenditure program targeted at the two Round Rock assets. A $105 million TPG Real Estate Finance loan was secured across the Round Rock duo at the time of that acquisition, while Greystone provided a $41.2 million bridge acquisition loan for Legends Lake Creek.

Austin Multifamily Market Context

The transaction comes as Austin's multifamily market shows signs of stabilization following a period of elevated new supply. According to Newmark Research, the development pipeline has continued to contract from its peak levels, while improving occupancy and renewed rent growth indicate strengthening fundamentals as demand outpaces available supply. Austin ranked as the No. 1 best-performing Top 50 U.S. market for job growth in 2025, adding 27,200 jobs, according to the U.S. Bureau of Labor Statistics. The metro's strong employment base, anchored in part by major technology employers concentrated in the North Austin corridor where the Silicon Hills Trio is located, continues to support long-term demand for multifamily housing.

North Austin's oversupply cycle has given way to an absorption-driven recovery, creating conditions in which value-add capital is moving in at reset pricing to position for the next phase of rent growth. The Silicon Hills Trio — three early-2000s garden communities large enough to matter to institutional investors — represents that type of basis-reset opportunity in a suburban tech corridor with established demand drivers.

Newmark Group, Inc. (Nasdaq: NMRK) generated revenues of more than $3.6 billion for the twelve months ended June 30, 2026, and operates from over 195 offices with more than 10,000 professionals across four continents.

Sources

Newmark Press Release: Newmark Arranges Sale and Financing of 1,027-Unit Value-Add Multifamily Portfolio in North Austin