24-Building Apartment Complex Sold by Marcus & Millichap in Fort Worth, TX

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