Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Lone Oak, a 396-unit multifamily asset in Weatherford, Texas.
“Weatherford has seen its population grow by 51.5 percent since 2000 and the city is projected to increase by an additional 5.4 percent over the next five years,” said John McGregor, senior associate in Marcus & Millichap’s Dallas office. “Demand for high-quality multifamily housing in the city was clearly demonstrated by Lone Oak’s strong lease-up performance.” McGregor, Nick Fluellen and Bard Hoover represented the seller, and procured the buyer.
Constructed in 2020 on 18 acres, the 16-building property is located at the intersection of U.S. Highways 180 and 80, 30 miles from Fort Worth and 60 miles from Dallas. Medical City Weatherford is 1.5 miles away and Weatherford College is nearby. Apartments at Lone Oak have nine-foot ceilings, full-size washers and dryers, stainless-steel appliances and granite countertops. Shared amenities include garages and carports, a resort-style pool, clubhouse with game room, and a fitness center.