
Institutional Property Advisors (IPA), a division of Marcus & Millichap, dedicated to serving the company’s institutional clients, announced the sale of Midway Row House, a 158-unit multifamily property in Dallas, Texas.
“Midway Row House is a boutique asset with a distinctive neighborhood feel in an urban environment,” said Taylor Hill, IPA senior managing director. “The property’s 107 townhome-style units with attached direct-access garages contributed to strong demand for this product type.” Hill and IPA’s Drew Kile, Joey Tumminello, Michael Ware, and Jack Windham represented the seller and procured the buyer.
The property is near the intersection of the Dallas North Tollway and Interstate 635, 10 miles from Downtown Dallas, Plano, and Frisco. Employment centers, including the Platinum Corridor, Galleria Dallas, Las Colinas, and Cypress Waters surround the property. The nearby town of Addison places residents within proximity of over 200 restaurants, and entertainment venues such as Vitruvian Park and Village on the Parkway.
Built in 2023, Midway Row House has 107 townhomes, 51 flats, and an Infinity Edge swimming pool that overlooks two-acre Blue Lake. Apartments have nine-foot ceilings, eight-foot entry and patio doors, and full-size washers and dryers. The average unit size is 979 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 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.