The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, announced the sale of Magnolia Gardens, a 39-unit garden-style multifamily property in Texarkana, Texas.
Yonnic Land represented the seller, and Guillermo Gameros procured the buyer.
“We are pleased to have helped the first-time buyers successfully close on Magnolia Gardens, and despite a significant shift in the market, we were able to negotiate unique financing to ensure a closing.” Commented Land, advisor at TMG.
Constructed in 1970, Magnolia Gardens consists of 39 units averaging 732 square feet, and select units feature amenities such as laminate hardwood-style floors, two-tone paint, and a breakfast bar. The community has controlled access and a laundry facility.
Magnolia Gardens is located just off North State Line Ave in the northern part of Texarkana. Less than one mile from Magnolia Gardens, residents have access to many national restaurants and retailers, including Starbucks, Fuzzy’s Taco Shop, Wingstop, Walmart Supercenter, Walgreens, and CVS. The property is also minutes away from Interstate-30 and Interstate-49.
Texarkana was named Best Small Places for Business and Careers by Forbes in 2019, and is a regional center for education, healthcare, and employment. The retail and services trade area encompasses a 17-county area in parts of three states. The region’s workforce is drawn from a 60-mile radius.
