IPA Negotiates Sale of 140-Unit Presidio at River East Apartments in Fort Worth

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Presidio at River East, a 140-unit apartment community located just north of downtown Fort Worth. The property offers a mix of studio, one- and two-bedroom units that are furnished with stainless steel appliances, washers and dryers and private balconies/patios or yards. Amenities include a pool, fitness center, outdoor kitchen and a dog park. An undisclosed, Texas-based developer sold the asset to California-based Starboard Realty Advisors for an undisclosed price. Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Jeff Kindorf and Will Balthrope of IPA brokered the deal. Presidio at River East was fully occupied at the time of sale.