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MARCUS & MILLICHAP COMPLETES SALE OF WEXFORD TOWNHOMES

DUNCANVILLE, TEXAS — Marcus & Millichap has completed the sale of Wexford Townhomes, a 122-unit townhome community located at 600 Wembley Circle in Duncanville. Occupancy for the property was approximately 95 percent at the time of closing. Al Silva of Marcus & Millichap’s Fort Worth, Texas, office and Kelley Sparkman of the firm’s Dallas office represented the seller, a Florida-based private investment group. The buyer, an out-of-state private investor, purchased Wexford Townhomes to satisfy a 1031 exchange and assumed an interest-only loan for the property that carries a 6.18 percent interest rate. The acquisition price was not disclosed.

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