Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications
TexasMultifamily

Institutional Property Advisors finalizes multifamily sale in suburban Dallas

July 14, 2021
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Village of Rowlett, a 249-unit, transit-oriented, mixed-use residential and retail development in Rowlett, Texas.

“Rowlett is the eighth-fastest growing city in the country, and Village of Rowlett is one of the city’s just five Class A multifamily assets,” said Drew Kile, IPA senior managing director. Kile and IPA’s Joey Tumminello, Will Balthrope, Taylor Hill, Michael Ware and Grant Raymond represented the seller, Catalyst Urban Development, and procured the buyer, Buchanan Street Partners. “Built in 2018, the property has been resilient through years of high supply and as deliveries leveled off, the location has proven to be the best in the submarket,” added Tumminello. “The market placed a premium on that aspect of the opportunity and the advantages it can provide long term.”

Located on President George Bush Turnpike in Rowlett’s downtown district, Village of Rowlett is within walking distance of a Dallas Area Rapid Transit station and 20 minutes from Downtown Dallas. Major employers in the Dallas-Fort Worth area include JPMorgan Chase, Uber Technologies, Allstate Insurance, Keurig Dr. Pepper and Reata Pharmaceuticals. The property has 16,588 square feet of retail, 13 live-work units, and 27 townhomes. Select units have 20-foot vaulted ceilings, covered patios and enclosed yards. Outdoor amenities include a swimming pool with sun deck, a pet park, and an urban community garden.

“IPA covers every submarket in the Metroplex and all markets in Texas with one multifamily team and this was an important factor in the completion of this closing,” added Balthrope.

Tags
Institutional Property AdvisorsMarcus & Millichap
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
TexasIndustrial

Cresa represents Careismatic Brands in its new 1,014,254-square-foot industrial lease in Dallas

February 3, 2023
TexasCRE

Hartman’s Anthony Trollope named Rising Star at CPE Influence Award ceremony

February 3, 2023
WisconsinMultifamily

CBRE brokers sale of 11-property multifamily portfolio in Milwaukee area

February 3, 2023
OhioIndustrial

Contegra completes reshoring project for American Nitrile in Ohio

February 3, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com