sale1

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Jameson at the Bluffs, a 387-unit apartment community in Fort Worth. Built on nine acres in 2021, the property features an average unit size of 784 square feet and amenities such as a pool, clubhouse, rooftop lounge, arcade and two dog parks. Drew Kile, Joey Tumminello, Will Balthrope, Taylor Hill, Michael Ware and Jeffrey Kindorf of IPA represented the seller, StoneHawk Capital Partners, in the transaction and procured the buyer, Buchanan Street Partners.

AUSTIN, TEXAS — Austin-based investment firm Casoro Group has sold five multifamily properties totaling 1,070 units that are located throughout the Dallas-Fort Worth metroplex. The 216-unit Mariposa Villas and the 332-unit Vistas at Pinnacle Park were both constructed in 2003 and are located in Dallas. The 198-unit Huntington Ridge was built in 2007 in the southern suburb of DeSoto, and the 180-unit River Oaks is located in nearby Wylie and was built in 2002. Rounding out the portfolio is Savoy of Garland, located northeast of Dallas, which totals 144-units and was built in 2008. The buyer and sales price were not disclosed.

DALLAS — A joint venture between Eagle Property Capital Investments, a multifamily investment firm focused on the Florida and Texas markets, and Mexico City-based private equity firm Promecap have acquired two apartment communities in Dallas totaling 958 units. The 466-unit Enclave at Prestonwood was built in 1978 and is located on the city’s north side, and the 492-unit Residences at Mesa Ridge was built in 1983-1984 and is located on the northeast side. Enclave at Prestonwood features one- and two-bedroom units ranging in size from 480 to 944 square feet, and Residences at Mesa Ridge offers one-, two- and three-bedroom apartments ranging in size from 500 to 1,186 square feet. Both properties have amenity packages that include pools and clubhouses. Enclave at Prestonwood also offers a fitness center, dog park and a children’s play area, while Residences at Mesa Ridge has a tennis court. The new ownership plans to implement value-add programs at both properties. Taylor Hill, Joey Tumminello, Will Balthrope, Michael Ware, Drew Kile and Asher Hall of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Exponential Property  Group, in the transaction and procured the joint venture as the buyer.