IPA Negotiates Sale of 589-Unit Multifamily Development in Fort Worth

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Lofts at Alta LeftBank and The Flats at Alta LeftBank, a two-property, 589-unit multifamily development in Fort Worth. Built in 2018, both communities are located on a 44-acre site at 600 Harrold St. in the city’s West 7th Street District. Both communities offer amenities such as pools, demonstration kitchens, social lounges and fitness centers. Drew Kile, Joey Tumminello, Will Balthrope, Michael Ware, and Taylor Hill of IPA represented the seller, a partnership between developer Wood Partners and Goldman Sachs Asset Management, in the transaction. Lubbock-based Madera Residential purchased the development for an undisclosed price.