ARA BROKERS LARGEST MULTIFAMILY SALE IN TEXAS HISTORY: 784-UNIT PROPERTY

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IRVING, TEXAS — Full-service brokerage firm ARA has brokered the sale of Lincoln Las Colinas, a 784-unit multifamily property in Irving. Constructed in two phases in 2010 and 2013, the community includes one- to three-bedroom apartments averaging 922 square feet, as well as a swimming pool, dog park, coffee bar, fitness center and clubhouse. The complex was 96.3 percent occupied at the time of the sale, which was the largest multifamily transaction in Texas history, according to ARA. Brian O’Boyle Sr., Brian Murphy and Brian O’Boyle Jr. marketed the property on behalf of the sellers, Lincoln Property Co. and Sarofim Realty Advisors. The asset was acquired by institutional investors advised by J.P. Morgan Asset Management.

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