Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Rocklyn at Samuels Avenue, a 274-unit riverfront multifamily asset in Fort Worth, Texas.
“Rocklyn at Samuels Avenue was one of the first Class A multifamily assets constructed in the revitalized historic Samuels Avenue neighborhood,” said Drew Kile, IPA executive managing director. “Walking distance from downtown and near Panther Island, the property has prime Trinity River frontage and direct access to the Trinity Trail System.” Kile and IPA’s Taylor Hill, Joey Tumminello, Michael Ware, and Shelby Clark represented the seller, Carleton Companies, and procured the buyer, EPH Properties.
Built in 2018, Rocklyn at Samuels Avenue is a four-story community with a resort-style pool area with water wall, rooftop entertainment space, covered parking, and a cantilevered deck with downtown views. Apartments have nine-to-eleven-foot ceilings, walk-in closets, and washers and dryers. The average unit size is 885 square feet.
“IPA in Texas provides investors with a large inventory of high-quality multifamily investment opportunities in every market, offering local market research and sales expertise in Dallas-Fort Worth, Houston, Austin, and San Antonio,” said Will Balthrope, IPA executive managing director.
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.
Institutional Property Advisors (IPA) is a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.
