Newmark Brokers Sale of 384-Bed Rio West Student Housing Near UT Austin

Austin, Texas — Newmark has brokered the sale of Rio West, a 384-bed student housing community located less than a quarter of a mile from the University of Texas at Austin’s campus. The property offers a private parking garage, onsite management and maintenance services, a complimentary coffee bar, private study lounges, a resort-style swimming pool with an outdoor patio and grilling stations, and a 24/7 fitness center. Ryan Lang and Jack Brett of Newmark represented the seller, Virginia-based ILM Capital LLC, in the transaction. The buyer and sales price were not disclosed.