Saturday, October 13, 2012

Two-Property Apartment Portfolio Changes Hands in Dallas, TX


  
Pace's Cove Apartment Home
 DALLAS, TX –Institutional Property Advisors (IPA),  a recently formed multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has brokered the sale of a two-property apartment  portfolio in Dallas.

The properties are Pace’s Cove Apartment Homes, a 328-unit 219,726-square foot multifamily complex and Brookfield Apartment Homes, a 232-unit 165,672-square foot complex. The terms of the sale were not disclosed.

Will Balthrope
Pace’s Cove Apartment Homes  is located at 13100 Pandora Drive in northeast Dallas. Located just north of Interstate 20 at 4060 Preferred Road in Dallas, Brookfield Apartment Homes is one-half mile west of U.S. Highway 67.

            Will Balthrope, an IPA executive director, and Drew Kile, an IPA associate director, represented the seller, Landmark Residential. Balthrope and Kile also secured the buyer, Peak Capital Partners.

            “Dallas is one of cities leading the nation in economic recovery and job growth,” says Balthrope. “Dallas/Fort Worth’s robust economy is generating new households, creating the tightest apartment conditions in more than a decade and facilitating healthy rent growth.”

For a complete copy of the company’s news release, please contact:

: Stacey Corso
Public Relations Manager
(925) 953-1716

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