Institutional Property Advisors (IPA), a division of Marcus & Millichap, dedicated to serving the company’s institutional clients, announced the sale of The Carter, a 276-unit multifamily asset in Grapevine, Texas.
“A thriving city with small town charm, Grapevine has a low supply of multifamily housing and future development faces restrictive zoning,” said Drew Kile, IPA executive managing director. Kile and IPA’s Joey Tumminello, Taylor Hill, Michael Ware, and Shelby Clark represented the seller, Integrated Real Estate Group and procured the buyer, Rockport Equity.
The Carter is within walking distance of Grapevine Mills Mall, less than three miles from Downtown Grapevine and close to employment centers in Dallas-Fort Worth. Grapevine’s trail and park system is directly accessible from the property and retail and entertainment are nearby at Grapevine Mills Mall and Cowboys Golf Club.
“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 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.
