Marcus & Millichap Arranges The Sale Of A 70-Unit Apartment Building
Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Timberbrook Apartments, a 70-unit apartment property located in Dallas, Texas, according to Kyle Palmer, Regional Manager of the firm’s Fort Worth office.
John Barker, Senior Director and Daniel Burton, Associate in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, was also secured by Mr. Barker. The property was marketed for 20 days, generated multiple offers and closed above listing price.
The subject property is located at 2468 Laughlin Drive in Dallas, Texas and consist of eight, two-story brick buildings featuring pitched roofs. The property has a concrete slab foundation and consists of 70 units with 69,745 leasable square feet and is situated on 3.088 acres of land.
On-site amenities include ample tenant parking, well-manicured grounds and convenient on-site management. Unit amenities include wood laminate flooring, mini-blinds and spacious closets.
The subject property is located north of Interstate 30 and is, near a multitude of employment centers, schools, parks and recreational facilities.
About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com