M&M Arranges Sale of 41-Unit Apartment Building in Dallas

DALLAS — Marcus & Millichap has arranged the sale of Village Oaks Condominiums, a 41-unit apartment property in Dallas, for an undisclosed price. Constructed in 1982, the one-story, Class B asset is situated on approximately 3.5 acres of land. Village Oaks Condominiums includes 17 one-bedroom, one-bath units and 24 two-bedroom, two-bath units. The property features 35,624 square feet of rentable space, for an average of 869 square feet per unit. Stephen Crittenden, senior associate with Marcus & Millichap, represented the seller and the buyer, both private investors, in the transaction. The seller acquired Village Oaks out of foreclosure through an all-cash transaction. The buyer is looking to expand its multifamily portfolio after a long history of medical, industrial and single-tenant ownership.