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| Sweetwater Ranch Apartments, Richardson, TX |
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| Will Balthrope |
RICHARDSON, TX – Institutional Property Advisors (IPA), a
division of Marcus & Millichap serving the needs of institutional and major
private real estate investors, has arranged the sale of Sweetwater Ranch,
a 312-unit multifamily community in Richardson, Texas.
The terms of the
commercial real estate sale were not released.
IPA
executive director Will Balthrope and IPA director Drew Kile
represented the seller and procured the buyer.
“Sweetwater Ranch is an infill apartment community with proximity to
major transportation arteries and employment centers at the front door of the
booming Telecom Corridor,” says Balthrope.
“The previous ownership added new appliances in two-thirds
of the apartments and plank flooring to one-third,” adds Kile. “The new owner
is in an excellent position to drive value by completing this interior
enhancement program.”
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| Drew Kile |
The property is located near the intersection of Interstate
635 and the Central Expressway at 540 Buckingham Road in Richardson.
The location is a
short distance from the Telecom Corridor, a technology business center and site
of the new $1.5 billion State Farm campus and the one million-square-foot Blue
Cross & Blue Shield of Texas campus.
The University of Texas at Dallas and
Texas Health Presbyterian Hospital of Dallas are also nearby.
Sweetwater Ranch offers residents a choice of five floor
plans, each with a wide range of appointments, including gourmet-style
kitchens, patios, balconies, garages and carports.
Shared amenities include a private lake, a 24-hour clothes
care center, a community clubhouse featuring a pool with heated spa, poolside
Wi-Fi and dry sauna, recreation center, fitness facility and clubroom with
fully equipped kitchen.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
