Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The Flats at 183, a 228-unit apartment community in Irving, Texas.
“Flats at 183 is in a great submarket and was performing well, but still had significant upside potential with additional capital improvements,” said Nick Fluellen, executive managing director, investments. “The buyer has a great plan to take this property to the next level, and I expect it to perform very well in the coming years.”
Fluellen and Bard Hoover, investment specialists in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the seller, AptVest.
The Flats at 183, was built in 1968 and spans 127,680 square feet across 19 buildings. The property has undergone significant renovations, with more than $4.1 million invested since 2021, including interior unit upgrades, roofing, exterior paint, landscaping, and parking lot resurfacing. The community is near major employment centers, retail, and entertainment destinations, including Toyota Music Factory and Las Colinas.
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.
