29
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Cobble Hills, a 136-unit apartment complex located on the east side of Fort Worth. The property consists of 12 buildings that house a mix of one-, two- and three-bedroom apartments. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Obsidian Capital, and procured the buyer, an out-of-state family office. Additionally, Danny Abergel of Marcus & Millichap Capital Corp. arranged $7.5 million in acquisition financing for the deal. The loan carried a seven-year term, a loan-to-value ratio of 60 percent and two years of interest-only payments followed by a 30-year amortization schedule.