The Multifamily Group Completes Sale of Midtown Apartments in Temple Texas

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Midtown Apartments
Midtown Apartments are located at 3000 W Adams Avenue in Temple, Texas

The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, announced the sale of Midtown Apartments in Temple, Texas.

“At The Multifamily Group, we deliver strong buyers, which is even more important today with the current challenging market. With the help of James Eng with Old Capital, the buyer assumed the seller’s existing Fannie Mae loan and added a supplemental loan in just 38 days,” Krebbs commented.

Midtown Apartments
Located at Village Way, Midtown Apartments encompasses 128 units, showcasing one- and two-bedroom options that average around 872 square feet per unit. Built in 1971, it boasts a range of amenities, including laundry facilities, a fitness center, a pool, a basketball court, a clubhouse, and a picnic area. The property is situated near the center of Temple and has easy access to I-35 and Loop 363.

“The seller’s motivation was to exchange into a larger property. Once they found a suitable
upleg, they needed to select the buyer who ensured a guaranteed closing as they had to put hard money on day one on their upleg. This is why they selected TMG’s buyer over the other competing LOIs they had received,” added Yazbeck.

Paul Yazbeck represented the seller, and Jon Krebbs procured the buyer. Paul and Jon are the founders of TMG.

The Multifamily Group is a commercial real estate brokerage firm focused exclusively on clients and helping them market, sell, and acquire multi-housing assets. Based in Dallas, Texas, investors look to The Multifamily Group for one thing – results.