Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Agave Azul on Boulder Apartments, a 66-unit apartment property built in 1965 and located in Dallas, Texas.
Ford Braly, first vice president investments, Al Silva, senior managing director investments, and Dylan York, associate, in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the owner, a Dallas-based private investor who had owned the property since 2018. The buyer, a Dallas-Fort Worth-based partnership, secured the deal with a list-price offer and non-refundable earnest money. Braly, Silva and York also procured the buyer. The property attracted 14 tours and seven offers during a four-week marketing campaign, with four offers meeting or exceeding pricing guidance.
Agave Azul on Boulder is a 66-unit property in Dallas that has undergone substantial renovations over the past five years, featuring individual HVAC systems and pitched roofs. Located directly off Kiest Boulevard near Loop 12, Interstate 35 and Interstate 20, the property is nearby retail and employment centers. These renovations, combined with strong asset management, have enhanced the property’s renter profile.
Since the beginning of 2022, the Fort Worth-based Silva Braly Multifamily Team of Marcus & Millichap has completed the successful marketing and sale of over 38 apartment properties in the Dallas-Fort Worth area totaling more than 6,900 units and $850 million in transaction volume.
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.
