 |
| Ridgmar Square Apartment, Fort Worth, TX |
FORT WORTH, TX -- Marcus & Millichap (NYSE: MMI), a leading commercial real
estate investment services firm with offices throughout the United States and
Canada, announced the sale of Ridgmar
Square, a 24-building, 332-unit apartment property located in Fort Worth,
Texas. The terms of the sale were not disclosed.
Al Silva, senior director of Marcus & Millichap’s
National Multi Housing Group in Fort Worth, had the exclusive listing to market
the property on behalf of the seller, a private investor from Washington State.
The buyer, a Texas-based investment group, was also secured by Silva.
“We generated a half-dozen offers during a four-week
marketing process and the transaction closed within 75 days of agreement on
terms,” says Silva. “The new owner plans to invest more than $3 million in
renovations that will substantially improve the product this property offers to
the local rental market.”
 |
| Al Silva |
Ridgmar Square is located at 2508 Ridgmar Blvd. in Fort
Worth, Texas. The apartment complex is conveniently situated with frontage on
Interstate 30, and is just 10 minutes west of downtown Fort Worth.
This
uniquely constructed property consists of large one- and two-bedroom floor
plans featuring 10 different architectural styles from all over the world.
Community amenities include two large pools, a clubhouse with a fitness center
and secure access gates.
For a complete copy
of the company’s news release, please contact:
Gina Relva
Public Relations Manager
Marcus & Millichap
(925) 953-1716
