Marcus & Millichap Inc.
11/18/2024 | Press release | Distributed by Public on 11/19/2024 15:26
Marcus & Millichap Brokers Sale of 30-Property Dallas Duplex Portfolio Across Metroplex Locations
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Marcus & Millichap Brokers Sale of 30-Property Dallas Duplex Portfolio Across Metroplex Locations
November 18, 2024
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DALLAS, Nov. 18, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the Dallas Duplex Portfolio, a 60-unit duplex community located throughout DeSoto, Ennis, Glenn Heights and Mansfield, Texas.
"Between the interest rate environment and the unique structure of purchasing 30 duplexes with eight different loans, this was one of the more complex transactions we've worked on this year," said Chris Pearson, associate. "Ultimately, collaboration between the seller and buyer was key to closing the deal successfully."
Pearson along with Bard Hoover, Nick Fluellen and Garret Nelson of the Fluellen-Hoover Multifamily Group, exclusively marketed the property on behalf of the local private seller and procured the buyer, Vault Cap.
The Dallas Duplex Portfolio spans 30 properties across the Dallas-Fort Worth metroplex, consisting entirely of two-bedroom units. Built between 1983 and 2000, the properties are near major highways, including Interstate 35, U.S. Route 67, and Interstate 20. They are also situated near several commercial hubs, such as Uptown Village in Cedar Hill, Central Mall in Ennis, and key employment centers throughout the region.
"Between the interest rate environment and the unique structure of purchasing 30 duplexes with eight different loans, this was one of the more complex transactions we've worked on this year," said Chris Pearson, associate. "Ultimately, collaboration between the seller and buyer was key to closing the deal successfully."
Pearson along with Bard Hoover, Nick Fluellen and Garret Nelson of the Fluellen-Hoover Multifamily Group, exclusively marketed the property on behalf of the local private seller and procured the buyer, Vault Cap.
The Dallas Duplex Portfolio spans 30 properties across the Dallas-Fort Worth metroplex, consisting entirely of two-bedroom units. Built between 1983 and 2000, the properties are near major highways, including Interstate 35, U.S. Route 67, and Interstate 20. They are also situated near several commercial hubs, such as Uptown Village in Cedar Hill, Central Mall in Ennis, and key employment centers throughout the region.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. 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 clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.