Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Vantage at Burleson, a 288-unit multifamily property in Fort Worth, Texas.
“The city of Burleson has seen population growth of over 30% in the past 10 years and has an unemployment rate of less than 2%,” said Will Balthrope, IPA executive managing director. “Vantage at Burleson is both the closest apartment community to Fort Worth and part of the highly acclaimed Burleson independent school district,” said Drew Garza, IPA senior vice president. Balthrope, Garza, and IPA’s Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware, and Cameron Purse represented the seller, Vantage Communities, and procured the buyer.
Completed in 2024, Vantage at Burleson is a three-story, garden-style property with an executive boardroom and suites, a resort-inspired swimming pool, and two dog parks. Apartments have nine-foot ceilings, washers, dryers, and ice machines. The average unit size is 856 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 Balthrope.
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.
