Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Serena Vista, a 120-unit apartment community in Arlington, Texas.
“While the market has been challenging, this was an excellent opportunity to acquire a quality Class B asset with significant upside potential,” says Nick Fluellen, executive managing director investments. “We had a motivated buyer and seller on this transaction, and when you have that, you can close great deals.”
Fluellen, Bard Hoover and Chris Pearson, investment specialists in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the private seller and procured the buyer, Green Mountain Properties, LLC.
Serena Vista was built in 1980 and spans 120,000 square feet and features a mix of one- and two-bedroom units. Units include vaulted ceilings and walk-in closets. Amenities include a swimming pool, on-site laundry, fitness center, clubhouse, and dog park. The community is positioned near major highways, shopping centers, and entertainment venues, including AT&T Stadium and Globe Life Park.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 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 our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
