142
DALLAS — Marcus & Millichap has arranged the sale of 5905 Victor Street, a 16-unit apartment property located in Dallas. Stephen Crittenden, William Jarnagin and Michael Ware of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Crittenden, Jarnagin and Ware also procured the buyer, a local investor. The buyer acquired the property as part of a 1031 exchange with an asset in Austin. Prior to marketing the asset, the seller renovated the interiors of 40 percent of the units and then capitalized on the investment through significant rental rate increases.