Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale and financing of The Woodlands, a 256-unit multifamily asset in Tyler, Texas.
“Built in 1984, The Woodlands presents the buyer with a prime opportunity to implement a unit enhancement program to compete with nearby comparable assets,” said Taylor Hill, IPA senior managing director. Hill and IPA’s William Hubbard, Drew Kile, Joey Tumminello, and Michael Ware represented the seller, BH Equities, and procured the buyer, Clover Capital Partners. Brian Eisendrath, Cameron Chalfant, and Harry Krieger of IPA Capital Markets arranged the seven-year fixed-rate agency financing.
The Woodlands is a two-story garden-style property with covered parking, fitness and business centers, a swimming pool, and package lockers. Apartments have high ceilings, air conditioning, washers, dryers, and built-in-bookshelves.
“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.
