Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Brookside, a 288-unit multifamily asset in Arlington, Texas.
“1980s-built multifamily assets continue to be a coveted and resilient product type even in the face of challenging economic headwinds,” said Wesley Racht, first vice president of investment sales in Marcus & Millichap’s Dallas office. “The marketing process generated 340 confidentiality agreements, 23 tours and 15 offers.” Marcus & Millichap’s Racht, Nick Fluellen, Bard Hoover and Chris Pearson represented the seller, and procured the buyer, Reap Capital.
Easily accessible from Texas State Route 360, the property is close to AT&T Stadium, Six Flags Over Texas, and Globe Life Field. Major employers nearby include Lockheed Martin, University of Texas at Arlington, and General Motors.
Brookside is a 22-building gated asset with a resort-style swimming pool, fitness center and three outdoor grilling stations. Apartments have stainless-steel appliances, fireplaces, reserved parking, covered parking and walk-in closets.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion.
