IPA Arranges North Dallas, TX Multifamily Sale

Bellagio at Bent Tree Apartments, 3901 Accent Drive, North Dallas, TX

                                                                                                                                        

Will Balthrope

DALLAS, TX – Institutional Property Advisors (IPA), a division of Marcus & Millichap Inc. specializing in serving institutional and major private real estate investors, is pleased to announce the sale of Bellagio at Bent Tree, 500-unit apartment community fronting Trinity Mills Road in North Dallas. The terms of the sale were not released.

              IPA executive director Will Balthrope and IPA director Drew Kile represented the seller, National Asset Services Inc. The buyer is Willmax Capital.

            “Bellagio at Bent Tree’s barrier-to-entry location with proximity to major transportation arteries and employment centers provides an exceptional opportunity for the new owner to capitalize on one of the nation’s premier job growth markets,” says Balthrope.

            “The numerous jobs in the area create a perpetual and growing demand for housing and support completing a first-generation unit enhancement program that will allow for an excellent return on investment,” adds Kile.

Bellagio at Bent Tree is located within the North Dallas “Platinum Corridor,” which includes more than 30 million square feet of office space and six million square feet of shopping and retail.

Drew Kile

It employs more than 651,000 employees along the Dallas North Tollway. Located at 3901 Accent Drive, the community is one mile from the Dallas North Tollway and one-and-one-half miles from President George Bush Turnpike, two of Dallas’ most high profile and major transportation arteries.

The Shops at Willow Bend, a 1.4-million-square-foot regional center anchored by high-profile retailers Neiman Marcus, Dillard’s, and Macy’s is located just three-and-one-half miles away.

Built in two phases between 1996 and 2000, Bellagio at Bent Tree offers 20 unique floor plans with 481,682 total rentable square feet and an average unit size of 963 square feet.

Community amenities include three swimming pools, a game room with billiards, two clubhouses and an indoor basketball court. Apartments feature frost-free refrigerators, ice makers, self-cleaning ovens, ice makers, ceiling fans, crown molding, mini blinds and patio or balcony.

                

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

Gina Relva

Public Relations Manager

(925) 953-1716