Multifamily

DALLAS — M&M has arranged the sale of Mandalay Palms, a 600-unit apartment property in Dallas. Al Silva of Marcus & Millichap’s National Multi Housing Group in Fort Worth marketed the property on behalf of the seller, an El Paso-based investment company. Silva also secured the buyer, a local partnership. Brian Adams of Institutional Property Advisors arranged financing. Mandalay Palms was built on more than 25 acres in 1985. The property is located at 7501 Chesterfield Drive in Dallas and has access to I-20 and U.S. Highway 67. Apartments feature vaulted ceilings, walk-in closets, patios or balconies and fully equipped kitchens with pantries. Most units also have washer and dryer connections. Community amenities include two swimming pools, onsite laundry facilities and a clubhouse.

AUSTIN, TEXAS — ARA has brokered the sale of Platinum Southside, a 195-unit apartment community located in Austin. Patton Jones of ARA represented the seller, New York-based Clarion Partners, in the transaction. FrontRange Capital Partners, a Denver-based private equity firm, was the buyer. Built in 2009, Platinum Southside is located in the South Central submarket. Units average 934 square feet and include nine-foot ceilings. Amenities include a clubhouse with leasing center, cyber cafe with WiFi, billiards, business center, beverage bar and a pool with grilling stations and picnic areas. Platinum Southside is located in south Austin. The property is located near U.S. Highway 290, U.S. Highway 71 and MoPac Expressway. The property was 95 percent occupied at the time of sale.