IPA Closes On 3,699 Multifamily Units Across Texas

Institutional Property Advisors, a division of Marcus & Millichap, completed 12 multifamily transactions in Texas totaling 3,699 units for a total of $317M in the first two months of 2018.  

The properties sold by IPA Texas were: 

• Cantera Creek at Lake Highlands, 472 units, Dallas 
• Castle Rock Apartments, 160 units, Dallas 
• The Vive at Lake Highlands, 248 units, Dallas 
• The Lantern at Lake Highlands, 340 units, Dallas 
• Churchill on the Park, 448 units, Dallas 
• The Broadmoor, 235 units, Houston 
• The Ranch at Fossil Creek, 274 units, Haltom City 
• Hidden Lakes Apartment Homes, 312 units, Haltom City 
• Diamond Ridge, 304 units, San Antonio 
• Parkvista Apartments, 477 units, San Antonio 
• Pearl Park Apartments, 188 units, San Antonio 
• Somerset Apartments, 241 units, San Antonio

We continue to see strong bidding from buyers on all types of assets from value-add to brand-new construction,” IPA Senior Director Drew Kile said. “These first-quarter transactions were closed with buyers from throughout the investment spectrum, ranging from major institutions to individual private buyers. Investors continue to be drawn to Texas by our state’s significant job and population growth.” 

The transactions were closed by IPA Texas Executive Director Will Balthrope and Senior Director Drew Kile, with assistance from team members Joey Tumminello in Dallas-Fort Worth, Jordan Featherston in Austin/San Antonio and Jennifer Campbell in Houston.

Source：CoStar News，April 2018