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| The Brentwood Apartments, 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 The Brentwood, a
292-unit apartment complex located in Fort Worth, Texas. The terms of the sale
were not released
Al Silva, a 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 Texas LLC. The buyer,
a Texas-based private investor, was also secured by Silva.
“We conducted 25 property tours and received 12 offers from
well-qualified investors during a three-week marketing process,” says
Silva. “The transaction closed just 45
days after an agreement was reached between buyer and seller. The buyer assumed an existing Fannie Mae
loan to complete the transaction.”
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| Al Silva |
The Brentwood is located at 8300 Brentwood Stair Road in
Fort Worth, 10 minutes east of downtown Fort Worth along Eastchase Parkway and
just south of Interstate 30.
The property is situated in a healthy commercial
area with major shopping centers and national retailers within walking
distance. The location is also just minutes from Dallas Cowboys Stadium and the
Dallas/Fort Worth International Airport.
Built in 1984, The Brentwood underwent $2 million in
renovations, including both interior and exterior upgrades, between 2011 and
2013. At the time of the sale, the property was in excellent condition and the
new owner will continue the unit improvement program.
For a complete copy
of the company’s news release, please contact:
Gina Relva
Public Relations Manager
Marcus & Millichap
(925) 953-1716
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