Institutional Property Advisors (IPA), a division of Marcus & Millichap, dedicated to serving the company’s institutional clients, announced the sale of The International at Valley Ranch, a 236-unit multifamily asset in the Valley Ranch master-planned development of Irving, Texas.
“Irving’s central Mid-Cities location makes it one of the area’s largest employment hubs,” said Drew Kile, IPA executive managing director. “Home to the headquarters of nearly 20 Fortune 1000 companies, the daytime population is over 200,000.” Kile and IPA’s Michael Ware, Joey Tumminello, Taylor Hill, Shelby Clark, and Jack Windham represented the seller, Criterion Development Partners, and procured the buyer, Consolidated Investment Group.
Located near Dallas Fort Worth International Airport, the property is close to Interstate 35E, Interstate 635, and President George Bush Turnpike, which connects residents to employment and entertainment centers in North Dallas and throughout the region. The Las Colinas Urban Center, University of Dallas, and Toyota Music Factory are nearby.
Additional amenities at The International at Valley Ranch include community-wide Wi-Fi, smart building technology, and EV charging stations. Apartments have Shaker-style cabinetry, front loading washers and dryers, and walk-in closets. The average unit size is 803 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 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.
