144-Unit Brookfield sells in Round Rock

​​​ROUND ROCK - Brookfield Apartment Homes, a 144-unit apartment complex, has sold in a transaction brokered by ARA, A Newmark Co.

Constructed in 1984, Brookfield Apartment Homes is a garden-style apartment complex situated on 7.58 acres just west of I-35 near Buckboard Blvd.

Occupancy was 93 percent at the time of the sale. 

ARA Newmark Austin-based executive managing director Andrew Shih represented the seller Petra Capital in the transaction.

"Rents at the property continued to rise throughout the marketing process, with tenants looking for more affordable rental options in the North Austin/Round Rock area as Austin’s urban core gets more and more expensive," said Shih.

California-based Frontline Capital was selected as the buyer.

This purchase signifies the company’s first purchase in Austin and sixth purchase in Texas in the last 30 months.​