Austin, Texas — Landmark Properties has acquired Moontower, a newly opened, 567-bed development by Lincoln Ventures near the University of Texas at Austin, for an undisclosed price.
The 18-story community offers one-, two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities include a rooftop swimming pool and lounge, a study lounge with individual study rooms, a fitness center, yoga and spin studio, coffee bar and 24-hour package concierge.
“Despite the unique challenges presented in 2020, we’ve aggressively pursued strategic acquisition and development opportunities since this summer,” says Wes Rogers, president and CEO of Landmark. “Moontower is an exceptional community for residents in Austin and further strengthens our growing Class A student housing portfolio.”
Ryan Lang, Jack Brett, and Ben Harkrider with Newmark brokered the transaction. The purchase of Moontower represents the company’s tenth acquisition in the past fourteen months and its fourth transaction completed in partnership with an investment group led by Ocean West Capital Partners.