Institutional Property Advisors (IPA), a division of Marcus & Millichap, dedicated to serving the company’s institutional clients, announced the sale of Mason + Mill, a 349-unit multifamily asset in Mansfield, Texas.
“Mansfield’s population growth of over 33% during the past 10 years has brought an influx of high-profile new developments and employers,” said Drew Kile, IPA executive managing director. “Completed in 2024, Mason + Mill is a stabilized asset just 25 minutes from Dallas, Fort Worth, and Dallas Fort Worth International Airport.” Kile and IPA’s Joey Tumminello, Taylor Hill, Michael Ware, and Shelby Clark represented the seller and procured the buyer, Millburn & Company, a private real estate investment firm based in Salt Lake City, Utah.
Mason + Mill is located near the intersection of Highway 360 and U.S. Route 287, adjacent to the currently under construction Reserve Mansfield, a 200-acre mixed-use district. Nearby employers include Mouser Electronics, Texas Health Hospital Mansfield, Methodist Mansfield Medical Center, and Klein Tools.
Mason + Mill was built in 2023 and features three- and four-story buildings with a resort-style swimming pool, outdoor lounge and recreational courtyard, pet park, and private work suites. Apartments have nine- and 10-foot ceilings, smart home technology, and front-loading washers and dryers.
“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.
